Member access

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

MERCK KGAA (MRK)

43
Real-time Quote. Real-time TRADEGATE AG - 09/19 10:01:58 pm
69.5700 EUR   -0.04%
10h ago MERCK KGAA : 2 set Millipore filter for water distilling apparatus
1d ago MERCK KGAA : Strengthens Executive Board
1d ago MERCK KGAA : EMD Serono Awards Grant for Growth Innovation (GGI) for the Fi..
SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 

Merck KGaA May Withdraw Research from Portugal over Debt-Report

07/09/2012 | 02:28am US/Eastern
Recommend:
0

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
Recommend :
0
React to this article
Latest news on MERCK KGAA
10h ago MERCK KGAA : 2 set Millipore filter for water distilling apparatus
1d ago MERCK KGAA : Strengthens Executive Board
1d ago MERCK KGAA : EMD Serono Awards Grant for Growth Innovation (GGI) for the First T..
1d ago MERCK KGAA : Serono Awards Grant for Growth Innovation (GGI) for the first time
2d ago MERCK KGAA : Serono to Broaden Its General Medicines Portfolio in Emerging Marke..
2d ago MERCK KGAA : Lupin expands portfolio with Merck deal
2d ago MERCK KGAA : on Track with Pharma Strategy; Pipeline Progress Announced
2d ago MERCK KGAA : on Track with Pharma Strategy; Pipeline Progress Announced
2d ago MERCK KGAA : Strengthens Executive Board
2d ago MERCK KGAA : Strengthens Executive Board
Advertisement
Chart
Duration : Period :
Merck KGaA Technical Analysis Chart | MRK | DE0006599905 | 4-Traders
Income Statement Evolution
Merck KGaA : Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF