Log in
Login
Password
Remember
Lost password
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Shares  >  Xetra  >  Merck KGaA    MRK

Real-time Quote. Real-time Tradegate - 08/03 03:59:57 pm
93.31 EUR   +0.74%
09:42a SIGMA ALDRICH : Reports Q2 2015 Sales of $697 Million and Adjusted D..
08:55aDJMerck KGaA 2Q 2015 -- Forecast
08:06a MERCK KGAA : and Nano-C Present Enhanced Materials for Organic Photo..
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Merck KGaA May Withdraw Research from Portugal over Debt-Report

07/09/2012 | 02:28am US/Eastern

German chemical company Merck KGaA (>> Merck KGaA) may withdraw future investments for research projects in Portugal worth tens of millions of euros unless the government hospitals stick to the agreed-upon debt repayments, German daily newspaper Financial Times Deutschland reports Monday.

Merck Portugal's manager Fritz Sacher told the paper the company's research projects are long-term and require mutual trust as a basis. "The Portuguese government's lacking payment habits undermine this trust," he is quoted as saying.

Portuguese government hospitals owe the pharmaceutical industry a total of more than 1.5 billion euros ($1.84 billion) and companies have to wait nearly 550 days on average until invoices are paid, FTD reports.

Some companies, including Roche Holding AG (ROG.VX), have already halted the sale of medications on credit to highly indebted countries like Portugal, Greece, Spain and Italy until outstanding debts are paid, the paper notes, but for many companies such drastic steps are difficult as they carry responsibility for people's wellbeing.

Withdrawing research projects is a way of putting pressure on the government, as Portugal is an attractive location for research investments, FTD says. "The conditions for certain research and human studies are as good as in the U.S., but it's significantly more cost-effective in Portugal," Sacher told the paper.

Newspaper website: http://www.ftd.de

Write to the Frankfurt Bureau at djnews.frankfurt@dowjones.com

Stocks mentioned in the article : Merck KGaA
React to this article
Latest news on MERCK KGAA
09:42a SIGMA ALDRICH : Reports Q2 2015 Sales of $697 Million and Adjusted Diluted EPS o..
08:55aDJMerck KGaA 2Q 2015 -- Forecast
08:06a MERCK KGAA : and Nano-C Present Enhanced Materials for Organic Photovoltaics
04:11a MERCK KGAA : Millipore Adds Protein Pegylation to Portfolio of Services for Biop..
07/30 MERCK KGAA : Announces Application Period for Start-ups
07/30 MERCK KGAA : Appoints Isabel De Paoli as new Head of Group Communications
07/30 MERCK KGAA : Threshold Pharmaceuticals Reports Second Quarter 2015 Financial and..
07/29 MERCK KGAA : Aeterna Zentaris Enters into Agreement with EMD Serono
07/25 MERCK KGAA : Serono extends collaboration with BioMed X
07/25 MERCK KGAA : Serono extends collaboration with BioMed X
Advertisement
Chart
Duration : Period :
Merck KGaA Technical Analysis Chart | MRK | DE0006599905 | 4-Traders
Income Statement Evolution
More Financials