2010-06-01

Leo Pharma and Novo Nordisk potentially out of Greece

As PharmaTimes reports, Novo Nordisk is pulling some of its best products out of the Greek market in response to top-down price controls. Leo Pharma is also in negotiations with government officials to come up with some collusive "solution" to the "problem."

In an industry like pharmaceuticals, it can be difficult knowing who is more anti-market: governments like Greece, or companies like Leo. I, for one, praise Novo Nordisk's resolve. In my mind, it is evident and proven beyond question via history that price controls and top-down regulatory control never works. Governments learn these lessons hard, though.

One lingering question in my mind is: Do governments take control because they are naturally power-thirsty, or do these regulatory ideas propagate themselves accidentallly? I am beginning to feel that it's the latter.