U.S. biomedical company Vanessa Research Inc. (VRI) has announced the acquisition of Hungaro-Gal, a Hungarian pharmaceutical contract manufacturing firm, for an undisclosed price, according to a press release sent to the Budapest Business Journal.
VRI says it will continue Hungaro-Gal’s contract manufacturing services and intends to maintain and grow its existing customer base. Additionally, VRI plans to utilize the latterʼs facilities to produce Shylicine, the company’s investigational oral solution developed to treat the rare and lethal microvillus inclusion disease.
Operating out of certified facilities in Kaposvár (SW Hungary), Hungaro-Gal services a growing market need for generic drug substances and fixed-dose combinations.
“For the past two decades, Hungaro-Gal has provided full-scale manufacturing services that are renowned for their quality and agility and trusted by their partners,” says VRI Hungary Managing Director Bence Krümmer. “It is Vanessa Research’s firm intention to build upon existing customer relationships, keep them and service them, just as Hungaro-Gal has for the last 20 years. Vanessa Research is honored to continue producing the highest-quality pharmaceutical and consumer health products and serving pharmacy partners.”
VRI says the acquisition signifies an expansion of its existing footprint in Hungary, as well as its entrance into the pharmaceutical contract manufacturing business.
Hungaro-Gal had revenues of HUF 667 million last year, public records cited by state news wire MTI show.