Press "Enter" to skip to content

Coronavirus in Europe: Scramble for face masks and medical Equipment sends prices soaring

Critical health equipment have been sold for three times their worth as nations scramble to maintain their health employees shielded, it has been maintained.

Uniform, one of the chief suppliers of pharmaceutical products in Romania, stated orders were falling because other buyers have been creating better offers.

“We faced many circumstances where even when we made down payments of 10, 20 or even 30 percent of the cost for specific substances, the next morning that the manufacturer could terminate the contract as the other buyer came in and paid 100 percent for the entire inventory,” explained Adrian Ionel, chief executive of Unifarm.

“Other times we paid 100 percent upfront and the following morning we’d find out that others threw in two or 3 times the sum, in money.”

However, for some, it’s too late.

For months now hospitals in hard-hit nations like Italy and Spain are overrun and lacking provides.

“This tells us is that we weren’t ready enough and that is an integral lesson to the future we should not need to put this setup today, it needs to be prepared to proceed, the stockpile must be there,” he explained.

Janez Lenarcic, the EU commissioner for emergency management, advised Euronews he’s optimistic the excess supply will shortly be available.

“This is the important challenge that everyone is facing (…) everybody needs the same thing at precisely the same time and a huge quantity of it along with the mismatch between the supply and demand, of course, complicates procurement however we’re trying our best and we’ve got great contacts to the member nations that volunteered to make this stockpile for its European ability,” he explained. “So I believe that there’ll be shortly this extra potential for our member countries.”