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

4-Traders Homepage  >  Equities  >  Xetra  >  Merck KGaA    MRK   DE0006599905

Delayed Quote. Delayed  - 05/24 05:35:14 pm
89.11 EUR   +1.41%
05/20 MERCK KGAA : and the GIZ Cooperate in Africa
05/20 MERCK KGAA : EMD Serono employees help out at Perkins School
05/19DJGermany's Merck Lifted by Sigma-Aldrich Deal
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Merck KGaA May Withdraw Research from Portugal over Debt-Report

share with twitter share with LinkedIn share with facebook
share via e-mail
0
07/09/2012 | 08:28am CEST

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
share with twitter share with LinkedIn share with facebook
share via e-mail
0
React to this article
Latest news on MERCK KGAA
05/24 MERCK KGAA : Nigéria recebe donativo recorde de praziquantel A Merck fornece cer..
05/24 MERCK : Le Nigeria reçoit un don record de praziquantel Merck fournit cette anné..
05/24 MERCK : Nigeria Receives Record Praziquantel Donation Merck supplies around 34 m..
05/20 MERCK KGAA : and the GIZ Cooperate in Africa
05/20 MERCK KGAA : EMD Serono employees help out at Perkins School
05/19 MERCK KGAA : 12th Edition of the EMD Serono Specialty Digest Now Available
05/19DJGermany's Merck Lifted by Sigma-Aldrich Deal
05/19DJGermany's Merck Lifted by Sigma-Aldrich Deal -- Update
05/19DJGermany's Merck Lifted by Health Care Unit
05/19 MERCK KGAA : EMD Serono Supports Military Community By Providing Access to Ferti..
Advertisement
News chart
Full-screen chart
Income Statement Evolution
More Financials