Gov't, Pharma Association Sign Cooperation Agreement

Pharma

Photo by Planar/shutterstock.com. (For illustration purposes only)

The National Economy Ministry and the Hungarian National Association of Pharmaceutical Manufacturers (Magyosz) signed a cooperation agreement on Tuesday, according to a report by state news wire MTI.

The agreement aims to boost the competitiveness of the pharmaceutical industry and the Hungarian economy, and to enhance the cooperation between Magyosz and the government as it takes the revolving presidency of the Council of the European Union in the second half of the year, National Economy Minister Márton Nagy said at the signing ceremony. Hungary's pharma industry has "great growth potential" and exemplifies the aspects of patriotism, technology, sustainability and supply security in the government competitiveness package, he added.

He noted that 17 of Magyosz's 25 members were Hungarian. 

Magyosz chairman Dávid Greskovits said the industry provided 15,000 jobs. He added that boosting competitiveness could turn SMEs into big companies, and big companies into multinationals.

Fielding questions, Nagy said windfall profit taxes could be phased out where there were no windfall profits.

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