Teva to complete HUF 3 bln development project
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.
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.