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Greek Pharmaceuticals Market flash

Pharmaceutical Sector is also a rather specialized and heavily regulated industry. A qualitative criterion for the acknowledgement by the National Organization for Medicines (EOF, as per its Greek initials) which is the competent regulatory authority, of a given company as “pharmaceutical company” is the object thereof, as described in its Articles of Association. In this framework, “pharmaceutical company” is an undertaking (enterprise), in the scope (object) of activities of which, the production and trade of medicines is included.

Pharmacies and Wholesalers’ in retail sales have been significantly decreased over the last years, whereas Hospital sales (at Hospital prices) have shown an interesting stability: Although back in 2008 Pharmacies and Wholesalers’ retail sales reached 6,55 bil. Euros whereas Hospitals’ sales amounted to 1,47 bil. Euros, as per latest data available, in 2014, Pharmacies and Wholesalers’ in retail sales were limited to 3,88 bil. Euros, whereas Hospitals’ sales amounted to 1,40 bil. Euros (33Source EOF 2015, SFEE Data Monitoring Committee).

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