Foreign min partners with pharmas to improve global market position

Pharma

Hungaryʼs Ministry of Foreign Affairs and Trade signed a strategic agreement with the Hungarian National Association of Pharmaceutical Makers (Magyosz), according to a report by state news wire MTI.

Under the agreement, Magyosz pledges to do its best to ensure the continued secure treatment of Hungarian patients and to encourage its members to carry on with their R&D activities as well as expand their presence on export markets and boost employment, said association chairman Dávid Greskovits.

Minister of Foreign Affairs and Trade Péter Szijjártó said the government and market players need to work on a strategy to keep local drugmakers competitive amid increasing global competition.

"Weʼre prepared to cooperate, and to continue cooperating in the interest of further improving the global position of Hungaryʼs pharmaceutical industry," he added.

He noted that Hungaryʼs pharmaceutical companies employ some 22,500 people. About 84% of the sectorʼs output is exported, he said.

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