MSD to invest HUF 9 bln in R&D in Hungary

Pharma

pixabay

American drugmaker MSD will invest HUF 9 billion in research and development operations in Hungary, MSD Pharma Hungary Managing Director Thomas Straumits said on Tuesday, as reported by Hungarian news agency MTI.

Straumits was speaking after the Hungarian unit and the state-owned Hungarian Investment Promotion Agency (HIPA) signed a memorandum of understanding on further strengthening strategic cooperation.

Straumits did not specify a time frame for the planned R&D spending, but noted that the company has been present in Hungary for 25 years. At present 50 various clinical trials financed by MSD are underway in the country. These activities involved 500 health professionals and more than 800 patients at 200 locations last year.

HIPA said last December that it will offer additional incentives from 2017 to companies establishing their research and development centers in Hungary, including cash grants equaling up to 25% of eligible costs.

ADVERTISEMENT

Millennium Gardens Opens with Over 90% Occupancy of Phase I Analysis

Millennium Gardens Opens with Over 90% Occupancy of Phase I

Horthy Statue to be Unveiled in Parliament Parliament

Horthy Statue to be Unveiled in Parliament

Blue Chip Art and Passion Assets - Claudia Worthington Hess ... Podcasts

Blue Chip Art and Passion Assets - Claudia Worthington Hess ...

Magyar Posta to Close 35 Post Offices in Capital City

Magyar Posta to Close 35 Post Offices in Capital

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.