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Teva to complete HUF 3 bln development project

Telco

The Teva Pharmaceutical Industries-owned factory in the city of Debrecen will complete a HUF 3 bln generic-drug development project this year, plant CEO Mihály Kaszás of Teva Gyógyszergyár, the company unit that operates the plant, told MTI yesterday.

Kaszás said that the unit won a HUF 842 mln grant through the government's New Széchenyi Plan for the development.

Teva has increased its annual production capacity at the factory from 500 million tablets and capsules per year to 10 billion per year over the past 20 years, Kaszás said.

Teva Gyógyszergyár had revenue of more than HUF 150 bln last year, down from HUF 188 bln in 2012, the electronic company files of the justice ministry show. Net profit dropped to HUF 21 bln from HUF 22 bln.

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