Drugmaker Egis to build HUF 5.5 bln innovative plant
Hungarian drugmaker Egis Pharmaceuticals plans to build a new innovative production plant for developing new pharmaceuticals, news agency MTI reported last Friday. The plant will be built with an investment of HUF 5.5 billion, supported with a European Union grant of HUF 2.3 bln, said Balázs Rákossy, state secretary at the Ministry for National Economy.
With funding from the Economic Development and Innovation Operational Program (GINOP), production capacity for research and development of new products will be established by Egis and its consortium partners: the University of Pannonia, the University of Szeged, and a Veszprém-based research team of the Research Center for Natural Sciences of the Hungarian Academy of Sciences.
At least three new innovative medicinal products are set to be introduced to the market by Egis after 2020, the state secretary was reported as saying. Construction of the 4,000 square-meter innovation base in Körmend, western Hungary, is scheduled to start in June 2017, and foreseen to be completed by October 2018, said unit deputy manager Gábor Gunther. Production is expected to start in 2020, he added.
In the four-year project, Egis and its partners will conduct research building on already known active ingredients for the development of eight new products, which will be patented, Egis CEO István Hodász said, according to MTI.
Egis spends almost 10% of its revenue, or more than HUF 13 bln, on research and development each year, the state secretary was reported as saying.
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.