The world's leading supplier of the anti-diabetes drug insulin is withdrawing a state-of-the-art medication from Greece.
Novo Nordisk, a Danish company, objects to a government decree ordering a 25% price cut in all medicines.
A campaign group has condemned the move as "brutal capitalist blackmail".
More than 50,000 Greeks with diabetes use Novo Nordisk's product, which is injected via an easy-to-use fountain pen-like device.
A spokesman for the Danish pharmaceutical company said it was withdrawing the product from the Greek market because the price cut would force its business in Greece to run at a loss.
The company was also concerned that the compulsory 25% reduction would have a knock-on effect because other countries use Greece as a key reference point for setting drug prices.
'Insensitive'...
Pharmaceutical companies are considered to be somewhat insulated from the effects of global economic cycles as the demand for most drugs is inelastic, but the state of some national economies today is so bad that the fallout from those countries will effect all industries. (Some)Traditional safe havens are safe no longer.
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