Europe’s Generic Drugmakers Say They May Cut Output Due to Energy Bills
FRANKFURT—Europe’s drugmakers have warned they may stop making some cheap generic medicines because of surging electricity costs and are calling for an overhaul of the way they are priced, the latest industry to seek help as the energy crisis deepens.
The generic drug industry lobby group Medicines for Europe, which represents companies including Teva, Novartis’s Sandoz unit and Fresenius SE’s Kabi business, on Tuesday sent an open letter to European Union member states’ energy and health ministers.
The bloc’s 27 energy ministers are meeting on Friday to seek agreement on measures to ease the energy crunch in Europe, with a levy on windfall profits of fossil fuel companies and a gas price cap on the table….