Merck Halts Shipment of Life - Saving cancer drug to Greece

{\rtf1\ansi\ansicpg1252\cocoartf1038\cocoasubrtf360 {\fonttbl\f0\fswiss\fcharset0 ArialMT;\f1\fnil\fcharset0 LucidaGrande;} {\colortbl;\red255\green255\blue255;\red26\green26\blue26;\red0\green0\blue238;} \margl1440\margr1440\vieww9000\viewh8400\viewkind0 \deftab720 \pard\pardeftab720\sa240\ql\qnatural \f0\fs24 \cf2 (Image Source: {\field{\*\fldinst{HYPERLINK "http://www.nytimes.com/2012/10/25/world/europe/greek-unemployed-cut-off-from-medical-treatment.html?pagewanted=all"}}{\fldrslt \cf3 \ul \ulc3 New York Times}}) \f1 \uc0\u8232 \u8232 \f0\b BY JOHN O\'92CONNOR \b0 \ \pard\pardeftab720\sa240\ql\qnatural \b \cf2 ANCHOR LOGAN TITTLE \f1\b0 \uc0\u8232 \u8232 \f0 The spiraling Greek economy took another turn for the worse Saturday as German pharmaceutical firm Merck says it will cease delivery of it\'92s life-saving cancer drug to Greek hospitals.\'a0The cancelled medication, known as Erbitux, is reported to be an effective treatment for various types of cancers. \f1 \uc0\u8232 \u8232 {\field{\*\fldinst{HYPERLINK "http://www.aljazeera.com/"}}{\fldrslt \f0 \cf3 \ul \ulc3 Al Jazeera reports}} \f0 the move to halt distribution is an indicator of potential long term problems for Greeks who require health care assistance from the government. \f1 \uc0\u8232 \u8232 \f0\b \'93Greece spends more in medicine than any other European nation, but is struggling to pay for drug supplies because of the country\'92s financial crisis.\'94 \f1\b0 \uc0\u8232 \u8232 {\field{\*\fldinst{HYPERLINK "http://www.dailymail.co.uk/news/article-2227257/Germans-stop-shipment-life-saving-cancer-drug-Greece-Euro-crisis-deepens.html?ito=feeds-newsxml"}}{\fldrslt \f0 \cf3 \ul \ulc3 The UK\'92s Daily Mail notes}} \f0 many other south European countries with universal health care systems are also struggling to pay their medical bills, but companies for the most part have only singled out Greece for ceased deliveries. \'a0\'a0 \f1 \uc0\u8232 \u8232 \f0\b \'93A number of industrial giants have shied away from accepting orders from the crisis-hit Greeks. Another German-based pharma giant, Biotest, suspended shipments to Greece because of unpaid bills in in June of this year.\'94 \f1\b0 \uc0\u8232 \u8232 {\field{\*\fldinst{HYPERLINK "http://www.nytimes.com/2012/10/25/world/europe/greek-unemployed-cut-off-from-medical-treatment.html?pagewanted=all&_r=0"}}{\fldrslt \f0 \cf3 \ul \ulc3 The New York Times reports}} \f0 the situation appears even more bleak as a new 17.5 million dollar austerity package of budget cuts and taxes increases will only look to make matters worse for Greek citizens. \f1 \uc0\u8232 \u8232 \f0\b \'93About half of Greece\'92s 1.2 million long-term unemployed lack health insurance, a number that is expected to rise sharply in a country with an unemployment rate of 25 percent and a moribund economy \'85 \'94 \b0 \ }