Revenue in Hungarian pharmaceutical sector shrinks

Telco

Following many years of growth, net sales revenue in the Hungarian pharmaceutical sector shrank by 1.4% to HUF 982 bln in 2013, Lívia Ilku, director of the Association of Hungarian Pharmaceutical Makers told Budapest Business Journal.

Exports of Hungarian pharmaceutical companies still dominate with domestic sales only accounting for HUF 159 bln of the total, Ilku told the daily.

Despite the falling revenues, R&D costs are on the rise – reaching HUF 68 bln – which is problematic, as the pharmaceutical sector’s chief source of funding for R&D is profit. For further details on the pharmaceutical sector’s actual stance in Hungary check the latest issue of Budapest Business Journal.

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