Varga meets with pharma sector leaders

Pharma

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Finance Minister Mihály Varga met with representatives of the Hungarian National Association of Pharmaceutical Manufacturers (MAGYOSZ) on Monday, according to a report by state news wire MTI.

In a post on Facebook, Varga said the local pharmaceutical industry "came out of the crisis strengthened".

He noted that the government is setting up funds to protect the regulated household utilities price system and to upgrade the country's military defense. The government expects a number of sectors to contribute their "extra profit" to the funds, he added.

"The government's goal is to build an economy resilient to crisis, preserve the country's stability and protect the results achieved until now," he said.

Days earlier, the government announced windfall taxes on the banking, insurance, energy, retail, telecommunications, airline, pharmaceutical, and advertising industries for a period of two years.

The windfall tax on the pharmaceutical sector is expected to generate an annual HUF 20 billion.

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