Debts for drugs, etc, in Croatia at record

22 January 2007

Debts for drugs and medical equipment have reached record levels in Croatia. Hospitals and pharmacies owe suppliers 4.0 billion kuna ($720.0 million). Croatian television reported that some institutions had taken bank credits so that they could continue buying supplies.

"Certain health institutions have owed us money for over three years. Presently, they owe us a total of 15.0 million kuna," said Lidija Knezevic, director of Instrumentaria, a company that produces medical equipment.

Some drug suppliers wait up to 230 days to get paid, say local sources. That does not even begin to compare with neighboring European Union member Slovenia, where drugs suppliers get paid after 45 days, on average. But hospitals also have problems. The monthly funds that they receive are barely sufficient to cover patients' treatment costs and employees' salaries. The city hospital in the popular Adriatic tourist destination Dubrovnik reportedly has debts amounting to 50.0 kuna million.

This article is accessible to registered users, to continue reading please register for free.  A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Login to your account

Become a subscriber

 

£820

Or £77 per month

Subscribe Now
  • Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
  • Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
  • Daily roundup of key events in pharma and biotech.
  • Monthly in-depth briefings on Boardroom appointments and M&A news.
  • Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK





Today's issue

Company Spotlight