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"The Pharmaceutical Industry in Greece: Terms and conditions for a new dynamic growth "
Category: Microeconomic Analysis
SubCategory: Health
Date: 08/09/2020
The study evaluates the recent performance of the Greek pharmaceutical industry, their contribution to the national economy, as well as the multiplier value of their investments for employment, public revenues, and GDP. Specifically, is estimated that for every €1 million invested in the construction of new production units, the return on investment reaches 86%, 20 new jobs are created, while the increase in public revenues corresponds to 22.5% of investment expenditure. It is also important that the multiplier effect from the operation of new production units with the total effect on GDP corresponding to 129% of investment expenditure. In addition, the operation of the new production units increases the revenue of the state by an amount equal to 37.6% of the investment expenditure, while at the same time, the strengthening of the domestic production of medicines which can replace the more expensive imports and can further reduce the public and private pharmaceutical expenditure. According to the research of IOBE, the significant growth dynamics of the Greek pharmaceutical industry highlights the need to support the industry, through a coherent and realistic action plan, which should provide for the link between the mandatory clawback and rebates with business research activity. In addition, the plan should provide for tax incentives for investment and simplification of the investment bureaucracy.

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