Please login to the form below

Not currently logged in
Email:
Password:

Vasella condemns ìhealthcare nationalismî

Novartis chief says governments favour local companies over multinationals

Novartis chief executive Daniel Vasella has criticised a rising trend of nationalism in the pharmaceutical sector, which he said was threatening economic efficiency, medical innovation and improved patient health.

Vasella told the Financial Times: ìWe are seeing healthcare nationalism coming back. From Japan to the US, it's all over the place.î

Recently, mergers in the sector have reflected governments' desire for national corporate champions. Ministers have shown their support for domestic industries by putting their weight behind local mergers.

Earlier this year, Germany's Bayer agreed to acquire local rival Schering AG while Novartis itself lost out in a bidding war for French firm, Aventis in 2004. In a highly politicised battle, the French government supported a rival offer from fellow French firm, Sanofi-Synthelabo.

Vasella, who is also president of the International Federation of Pharmaceutical Manufacturers and Associations, also criticised a 13 per cent price cut on hundreds of imported branded medicines imposed by the Polish government.

He said the move reflected ìgovernment pressure on multinational groups in favour of the promotion of local companiesî.

30th September 2008

Share

Featured jobs

Subscribe to our email news alerts

PMHub

Add my company
Weber Shandwick

At Weber Shandwick, engagement has always been the cornerstone of health communications.We make health matter. Health is a basic human...

Latest intelligence

London
“Brexit has been a catalyst for UK clinical research... it’s turbocharged change”
The UK clinical trials environment has been transformed in recent years – but can it really buck Brexit’s risks and uncertainties?...
The Future of Pharma sales: fast forward to 2029
Change is inevitable, and necessary, for growth in business....
International Women's Day - 8 March 2019
International Women's Day has been celebrated since its inception in 1911. But how far have we come?...

Infographics