Monday, June 14, 2010

Novo Nordisk now says it accepts new Greek insulin prices | Reuters

UPDATE 2-Novo Nordisk says accepts new Greek insulin prices | Reuters

COPENHAGEN, June 14 (Reuters) - Denmark's Novo Nordisk (NOVOb.CO), the world's biggest maker of insulin, said on Monday it would resume supplies of its modern insulins to Greece after the country raised its prices for the drugs.

Drug prices are in the firing line as European governments tackle runaway budget deficits.

Novo in May suspended the supply of its most modern insulins to Greece, calling a government decision to slash some prices by 25 percent "unacceptable".

Novo said in a statement that Greece issued new pricing late on Friday for 48 insulin products including Novo's modern insulins and pen-based insulins. The prices came into effect June 14.

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