Foreign min partners with pharmas to improve global market position
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.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.