Eaepc contribution to_birgli_report_on_shortages
•
0 gefällt mir•356 views
We have published our first industry report. Commissioned by the EAEPC, birgli put together an independent report on the causes of shortages of medicines in Europe with a more in depth look at France, Greece, Poland, Spain, and the United Kingdom. We would like to thank the EAEPC for commissioning the report and to everyone who contributed and provided support. Attached is the EAEPC contribution to the report, the report is available in a separate post (I am unable to load the two reports on one post). Each document represents our independent views on shortages.
![!
?2-!/)*'-@'6!5$0'!$*.!/&33-*'!%-#-%0!)+!5$3$%%-%!.(0'3(:&'()*!
S$(A-);!/$%3!())#(4!$'&%$.+!%/!"*"15!3'3F'$+D!.2'!8%4#3'!%/!&($(44'4!9-+.$-F#.-%)!%/!3'9-,-)'+!-)!
.2'! ""*! ($'(! %/! "#$%&'! 2(+! $'3(-)'9! /(-$4E! +.(F4'! %8'$! .2'! &(+.! =! E'($+D! (.! ($%#)9! @B=! F)! T! 6(.!
&2($3(,E! &#$,2(+-);! &$-,'+7B! U%A'8'$D! .2'$'! 2(8'! F'')! +-;)-/-,().! /4#,.#(.-%)+! -)! .2'! 4'8'4! %/!
(,.-8-.E! F'.A'')! )(.-%)(4! 3($G'.+! 9#'! .%! (! )#3F'$! %/! /(,.%$+V! ,#$$'),E! /4#,.#(.-%)+D! /%$! 'J(3&4'D!
2(8'!$'9#,'9!&($(44'4!-3&%$.!-).%!MW!A2-4'!(.!.2'!+(3'!.-3'!/(8%#$-);!,%)9-.-%)+!/%$!'J&%$.-);!/$%3!
MWD!(4F'-.!%/!9-//'$').!3'9-,-)'+X!&$-,'!(9H#+.3').+!-)!Y'$3()E!6*Z[Y7!2(8'!$'9#,'9!.2'!(&&'.-.'!
/%$! Y'$3()! -3&%$.+! A2-,2D! -)! .#$)D! (44%A+! %.2'$! -3&%$.'$! 3($G'.+! .%! (,,'++! .2'+'! +%#$,'+D! A2-,2!
3(E! $'+#4.! -)! ,%3&4'.'4E! )'A! .$(9'! /4%A+B! Z()#/(,.#$'$+:! +#&&4E! K#%.(+! 3(G'! 3'9-,-)'+! 4'++!
(8(-4(F4'!/%$!&($(44'4!9-+.$-F#.-%)D!()9!-)!$'+&%)+'!.%!+3(44'$!F(.,2!+-N'+D!&($(44'4!-3&%$.'$+!A-44!.#$)!
.%!%.2'$!&$%9#,.+X!.2'-$!&$%9#,.!&%$./%4-%!-+!;')'$(44E!F'.A'')!@>>!()9!Q>>>!&$%9#,.!4-)'+!()9!.2#+!
3#,2! 4($;'$! .2()! .2(.! %/! .2'! (8'$(;'! &2($3(,'#.-,(4! 3()#/(,.#$'$B! Z%$'! &$%9#,.+! 6()9!
3()#/(,.#$'$+7!()9!3%$'!3($G'.+!($'!.2'$'/%$'!4-G'4E!+#FH',.!.%!&($(44'4!9-+.$-F#.-%)D!()9!.2-+!3(E!
A'44! 4'(9! .%! .2'! &'$,'&.-%)! %/! ;$%A-);! .$(9'! A2-4'! .2'! $'(4-.E! +&'(G+! %/! ()! %8'$(44! +.(F4'! 8%4#3'B!!
O2-4'!.2'!)%.-%)!%/!+2%$.(;'+!A(+!)%.!()!-++#'!(!/'A!E'($+!F(,GD!-.!-+!)%AD!()9!(&&'($+!.%!F'!4-)G'9!
-)! .2'! 3'9-(! P! 3%$'! %$! 4'++! 'J,4#+-8'4E! P! .%! ]#)9'+-$(F4'^! 'J&%$.+! -)! .2'! ,%).'J.! %/! &($(44'4!
9-+.$-F#.-%)B!!C-3&4'!4%;-,!9-,.(.'+!.2(.!.2'$'!3#+.!F'!3%$'D!()9!%.2'$D!,(#+'+!/%$!.2'!&2')%3')%)!
.%!,%3'!.%!&$%3-)'),'!)%AB!
*+! (! A(E! %/! 'J(3&4'D! -)! ()! %&-)-%)! $'4'(+'9! -)! _#4E! Q><QD! .2'! `$'),2! 5%3&'.-.-%)! *#.2%$-.E! /%#)9!
.2(.!.2'!-++#'!%/!+2%$.(;'+!-)!`$(),'!-+!3#4.-/(,'.'9!()9!,%3&4'JD!()9!/($!/$%3!F'-);!&#$'4E!$'4(.'9!
.%!&($(44'4!'J&%$.+B!C-3-4($4ED!.2'!F-$;4-!+.#9E!-+!.2'!/-$+.!'J'$,-+'!%/!.2-+!G-)9!.2(.!2'4&+!9'3%)+.$(.'!
.2(.! .2'! ,(#+'+! %/! 3'9-,-)'! +2%$.(;'+! ($'! K#-.'! )#(),'9D! ()9! 8($E! %8'$! .-3'! (,,%$9-);! .%! 3($G'.!
()9!&$%9#,.B!I2-+!,()!3(G'!-.!9-//-,#4.!(.!.-3'+!.%!,%3&($'!%)'!,(+'!%/!+2%$.(;'+!A-.2!()%.2'$B!I2'$'!
-+!)%.!+#,2!(!.2-);!(+!(!&'$/',.!+)(&+2%.!%/!.2'!+2%$.(;'+!+-.#(.-%)B!!
A2<!$3-!'2-3-!B-.(/(*-!02)3'$4-0>!
I2'! F-$;4-! $'&%$.! 9%,#3').+! .2'! G'E! ,(#+'+! /%$! +2%$.(;'+D! %$! +#&&4E! 9-//-,#4.-'+D! F(+'9! %)! +#$8'E+!
(3%);!+.(G'2%49'$+B!C%3'!%/!.2'!,(#+'+!($'!G)%A)D!F#.!A-.2!.2-+!$'&%$.!.2'!"*"15!2(9!2%&'9!.%!F'!
(F4'! .%! F$-);! 9(.(! .%! .2'! .(F4'! ()9! &$%8-9'! K#().-/-(F4'! %#.,%3'+B! a';$'..(F4ED! .2(.! 2(+! )%.! F'')!
&%++-F4'D! (+! .2'! (#.2%$+! 9',4($'! .%! .2'-$! $';$'.B! b'.D! 9(.(! %/! 3%$'! %$! 4'++! +E+.'3(.-,! ,%3&%+-.-%)D!
+%3'.-3'+!(4+%!%)4E!%/!()',9%.(4!,2($(,.'$D!(&&'($!.%!'J-+.D!F#.!+2($-);!.2'+'!F'.A'')!,%33'$,-(4!
,%3&'.-.%$+! ,()! &$%8-9'! 4';(4! ()9! &$(,.-,(4! %F+.(,4'+D! A2-,2! +2%#49! F'! %8'$,%3'! -)! %$9'$! .%! F$-);!
)''9'9! 3'9-,-)'+! .%! &(.-').+B! L.! -+! -)!+.(G'2%49'$+:! -).'$'+.+! .%! 3(G'! ()! (..'3&.! .%! .2(.! '//',.D! (+!
%.2'$A-+'! (#.2%$-.-'+! 3(E! $'+&%)9! A-.2! -),$'(+'9! $';#4(.-%)D! A2-,2! -)! -.+'4/! ,()! F'! (! ,(#+'! /%$!
,%3&4-,(.-);!.2'!+#&&4E!,2(-)B!!
I2'!"*"15!+.()9+!$'(9E!.%!(++-+.!-)!.2-+!],%3&($-);!%/!)%.'+^B!
I2'! F-$;4-! $'&%$.! 9'3%)+.$(.'+! 2%A! 9$(3(.-,! &$-,'! ,#.+! ()9! $'-)'90-)! +.(.'! +&')9-);! %)!
&2($3(,'#.-,(4+! -)! "#$%&':+! /-)(),-(44E! +.$-,G')! ,%#).$-'+! 2(8'! -3&(,.'9! .2'! F#+-)'++! 9',-+-%)+! %/!
&2($3(,'#.-,(4! ,%3&()-'+! .%! $'9#,'! ,%+.+! ()9! +.$'(34-)'! 3()#/(,.#$-);D! ()9! .%! +%3'! 'J.').! .2'!
&%$./%4-%!%/!&$%9#,.+B!!
"*"15!P!Q<!*#;#+.!Q><R!
!
!
Q!](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
Empfohlen
Empfohlen
Weitere ähnliche Inhalte
Was ist angesagt?
Was ist angesagt? (18)
Eaepc contribution to_birgli_report_on_shortages
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`$'),2! 5%3&'.-.-%)! *#.2%$-.E! /%#)9! .2(.!.2'!-++#'!%/!+2%$.(;'+!-)!`$(),'!-+!3#4.-/(,'.'9!()9!,%3&4'JD!()9!/($!/$%3!F'-);!&#$'4E!$'4(.'9! .%!&($(44'4!'J&%$.+B!C-3-4($4ED!.2'!F-$;4-!+.#9E!-+!.2'!/-$+.!'J'$,-+'!%/!.2-+!G-)9!.2(.!2'4&+!9'3%)+.$(.'! .2(.! .2'! ,(#+'+! %/! 3'9-,-)'! +2%$.(;'+! ($'! K#-.'! )#(),'9D! ()9! 8($E! %8'$! .-3'! (,,%$9-);! .%! 3($G'.! ()9!&$%9#,.B!I2-+!,()!3(G'!-.!9-//-,#4.!(.!.-3'+!.%!,%3&($'!%)'!,(+'!%/!+2%$.(;'+!A-.2!()%.2'$B!I2'$'! -+!)%.!+#,2!(!.2-);!(+!(!&'$/',.!+)(&+2%.!%/!.2'!+2%$.(;'+!+-.#(.-%)B!! A2<!$3-!'2-3-!B-.(/(*-!02)3'$4-0>! I2'! F-$;4-! $'&%$.! 9%,#3').+! .2'! G'E! ,(#+'+! /%$! +2%$.(;'+D! %$! +#&&4E! 9-//-,#4.-'+D! F(+'9! %)! +#$8'E+! (3%);!+.(G'2%49'$+B!C%3'!%/!.2'!,(#+'+!($'!G)%A)D!F#.!A-.2!.2-+!$'&%$.!.2'!"*"15!2(9!2%&'9!.%!F'! (F4'! .%! F$-);! 9(.(! .%! .2'! .(F4'! ()9! &$%8-9'! K#().-/-(F4'! %#.,%3'+B! a';$'..(F4ED! .2(.! 2(+! )%.! F'')! &%++-F4'D! (+! .2'! (#.2%$+! 9',4($'! .%! .2'-$! $';$'.B! b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a%3()-(D!.2'!5N',2!a'&#F4-,!/%$!'J(3&4'7!2(8'!A-.)'++'9!$'9#,'9! &$%9#,.! -).$%9#,.-%)+! ()9! '8')! 3($G'.! A-.29$(A(4+D! (+! -.! 2(+! )%.! F'')! +#//-,-').4E! &$%/-.(F4'! /%$! ,%3&()-'+! .%! +'44! ,'$.(-)! 9$#;+! .2'$'B! L)! Y$'','D! /%$! 'J(3&4'D! Q>R! &$%9#,.+! 2(8'! F'')! A-.29$(A)! /$%3!.2'!3($G'.!-)!Q><QD!%/!A2-,2!Q=!2(8'!)%!;')'$-,!'K#-8(4').B! c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d@e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`#$.2'$D! +#&&4E! ,2(-)+! 2(8'! F',%3'! ,%)+-9'$(F4E! ,%3&$'++'9D! ()9! F#//'$! +.%,G+! '4-3-)(.'9D! %8'$! .2'! 4(+.! E'($+! .%! $'9#,'! A%$G-);! ,(&-.(4B! `-)(44ED! 3()#/(,.#$'$+! 2(8'! F';#)! .%! -3&4'3').! f9-$',.! .%! &2($3(,E:! &$(,.-,'+! -)! (! )#3F'$! %/! 3($G'.+! -)! "#$%&'D! A2-,2! &$%,'++! 2(+! F'')! (,,#+'9! %/! 4'(9-);! .%! -)'//-,-'),-'+! ()9! 9-+$#&.-%)+! -)! .2'! +#&&4E! ,2(-)!()9!)';(.-8'4E!-3&(,.-);!f&#F4-,!+'$8-,'!%F4-;(.-%)+:!%/!A2%4'+(4'$+B!!! ?2-!3)%-!)+!5$3$%%-%!.(0'3(:&'()*! L.! -+! ,4'($! .2(.! .2'$'! 2(+! F'')! ()! '8%4#.-%)! -)! $',').! E'($+! -)! .2'! 3($G'.! /%$! &($(44'4! -3&%$.'9d'J&%$.'9!3'9-,-)'B![%A(9(E+D!9(.(!+2%A!.$(9'!-)!3'9-,-)'+!%,,#$+!"#$%&'0A-9'!(+!&$-,'! 9-//'$').-(4+! 2(8'! F',%3'! 3%$'! 9-8'$+'B! `4#,.#(.-%)+! ,()! )%A! F'! +'')! F'.A'')! 3($G'.+D! (+! ,#$$'),-'+D!&$-,'+!()9!$'-3F#$+'3').!&%4-,-'+!,2();'!3%$'!/4#-94EB!! L.! -+! A%$.2! )%.-);! .2(.! Y$'','D! A2'$'! 3'9-,-)'! +2%$.(;'+! 2(8'! F'')! &($.-,#4($4E! &$%)%#),'9D! 2(+! (,.#(44E!A-.)'++'9!9',$'(+-);!'J&%$.+!%8'$!$',').!E'($+B!L)!Q>>gD!A2')!+2%$.(;'+!A'$'!)%.!$';($9'9! (+!()!-++#'D!'J&%$.!4'8'4+!A'$'!(F%8'!Te>>!3D!9%#F4'!.%9(E:+!4'8'4B! /! ,%#$+'D! A-.2! +-;)-/-,().! 9-//'$'),'+! -)! &$-,'+! F'.A'')! 8($-%#+! 3($G'.+! -)! "#$%&'! ()9! 3'(+#$'+! .(G')! .%! ,%).$%4! ,%+.D! &($(44'4! 9-+.$-F#.-%)! -+! F%#)9! .%! %,,#$B! I2'! &$(,.-,'! -+! (4+%! '),%#$(;'9! FE! 8($-%#+!,%#).$-'+!F',(#+'!.2'E!#)9'$+.()9!()9!8(4#'!.2'!,%3&'.-.-8'!'//',.!-.!2(+!%)!&$-,'+B!_#+.!(! /'A!9(E+!(;%D!.2'!`$'),2!5%3&'.-.-%)!*#.2%$-.E!$',%;)-+'9!.2'!,%3&'.-.-8'!-3&(,.!%)!&$-,'+!/$%3! &($(44'4!9-+.$-F#.-%)!()9!,(44'9!/%$!(!,2',G!%)!%F+.(,4'+!.%!.$(9'B!1($(44'4!9-+.$-F#.-%)!(4+%!2(+!;$'(.4E! 2'4&'9!&2($3(,-'+!()9!A2%4'+(4'$+D!A2-,2!2(8'!-)!3()E!3($G'.+!+.$#;;4'9!.%!+#$8-8'!A-.2!9',4-)-);! "*"15!P!Q<!*#;#+.!Q><R! ! ! R!
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