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Newsletter December 2011

IQ - INNOVATION QUOTIENT

Pharma in Greece at the Forefront

As the pharmaceutical industry advances globally, Greece is demonstrating notable success in clinical research and new, productive synergies.

EMRI Shortlisted for SCRIP Award
The European Medical Research Institute—EMRI—of Greek pharmaceutical company PharmServe Lilly was shortlisted among five candidates from a global pool by SCRIP magazine for best Clinical Research Team of the Year, 2011. It is the first time a Greek company has achieved such a notable distinction in the area of clinical research.

SCRIP magazine is a leader in a broad range of issues concerning the international medicine market. The SCRIP AWARDS is an annual event that recognises excellence in the medical field. One of the award categories is clinical research, a complex process vital to the development of new medicines. In many cases between 10 to 15 years is necessary for a medicine to reach the market and the clinical research component, conducted following a strict framework of scientific principles and ethical practices, is one of the most important.

The European Medical Research Institute—EMRI—of Greek pharmaceutical company PharmServe Lilly, founded 15 years ago, is manned by 30 distinguished scientists, has invested more than 25 million Euros, and has succeeded in the creative cooperation with more than 1600 Greek doctors-researchers from at least 1000 research centres, in the framework of 100 clinical research programmes that have led to the collection of data from 14000 patients.  Such dedicated practices have demonstrated the superb level of EMRI, leading to the SCRIP nomination.

In addition, EMRI recognises that a knowledge economy, incorporating innovation and an entrepreneurial spirit, is a core component for Greece to emerge stronger from its current crisis.  

Novartis-ELPEN Alliance
The multinational Novartis has entered into a strategic alliance—for a period of four years—with the Greek pharmaceutical company ELPEN that will result in the co-promotion of six medicinal products, for high blood pressure, heart disease and diabetes.

Representative of the two companies stated that the importance for and benefits to the Greek economy and entrepreneurship, during this challenging time, are significant.

Constantinos Frouzis, Vice President of the Board and General Manager of Novartis Hellas and General Secretary of SFEE and Theodore Trifon, Vice President of ELPEN and Vice President of PEF (Panhellenic Pharmacists Association), stated that strategic alliances for the promotion and production of pharmaceutical products in Greece strengthens Greece’s economic base and creates opportunities for more jobs, knowledge transfer, and an expanded consumer base.

According to Mr. Frouzis, Novartis Hellas, during the many years it has been active in Greece, provides the Greek economy with significant revenues. In 2010 alone, a very difficult year for the pharmaceutical industry, this amount  exceeded € 150 million. Furthermore, the company also supported 90 clinical studies in Greece, an investment of millions, and contributed to the development of Greek entrepreneurship through the investment of approximately € 30 million for co-marketing of medicines in cooperation with top Greek pharmaceutical companies, such as ELPEN.  This specific partnership of Novartis Hellas represents  a Best Practice for the entire Novartis Group internationally.