Pharmaceutical investments amounting to 605 million euros were deposited in ‘Greece 2.0’

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The total budget of the proposals submitted to the action amounts to 604,849,335.12 euros: “Reforms of the Clawback System & Offsetting it with Research & Investment Expenditures”, by the beneficiary pharmaceutical companies. The requested grant amounts to 292,294,707.01 euros.

The action has a budget of 250,000,000 euros, is funded by the Recovery and Sustainability Fund and its Implementing Agency is the General Secretariat for Research and Innovation of the Ministry of Development and Investment.

Until the 28th of April 2022, the deadline for submission of applications, 65 aid applications were submitted to the State Aid Information System (PSE) by 40 potential beneficiaries.

The 50 requests concern investments in Research and Development (R&D). The total budget of these amounts to 403,486,170.77 euros and the requested grant to 213,607,973.94 euros. The remaining 15 requests are related to the support of productive investment projects. Their total budget is 201,363,164.35 euros and the requested grant is 78,686,733.07 euros.

It is noted that, based on the invitation, the beneficiaries had the opportunity to submit up to three applications for support of R&D projects and up to three investment projects, respectively.

The Deputy Minister of Finance, Mr. Theodoros Skylakakis, responsible for the implementation of the National Plan for Recovery and Sustainability “Greece 2.0”, stated: of “Greece 2.0” for the clawback, went so far as to exceed the budget. The significant investments that will be implemented, within the framework of the action, by the pharmaceutical industry, are expected to create at least 2,000 new highly specialized jobs “.

The Minister of Development and Investment, Mr. Adonis Georgiadis, pointed out: “From the first day we introduced the pharmaceutical clawback, it seemed that it would be a very powerful development tool for the Greek economy. However, its inclusion in the Recovery Fund gave it a completely different The results submitted are the obvious proposals submitted.Investment projects worth 605 million euros by large companies that will transform Greece into one of the most powerful countries in the world of medicine, all from the implementation of a smart idea in cooperation between the Ministries “Finance, Development and Health. We welcome these investment plans and are committed to working with investors to implement all these important investments quickly and efficiently for the good of the Greek people.”

Key features of action

Its goal is:

the reform of the clawback system to its drastic reduction in the medium term, and

– the simultaneous offsetting of clawback returns with expenses made in Greece and related to clinical studies, expenses for R & D or productive investment expenses of the companies liable for the return, period 2021-2023.

This is the offsetting of automatic clawback returns as a percentage of R&D costs and investment costs of product or service development plans or production lines.

It is addressed to pharmaceutical companies that are obliged to pay an amount of automatic return (clawback) of the pharmaceutical cost of EOPYY. and hospital pharmaceutical expenditure.

Source: Capital

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