Sanofi-Aventis plans jumbo project in Budapest
Tuesday, March 8, 2005, 08:05
The Hungarian subsidiary of Sanofi-Aventis, the world's third largest pharmaceutical corporation, will invest Euro 15 million in its R+D center in Budapest, the group's President and CEO Jean-Francois Dehecq announced. The staff of the Budapest reseach center have participated in one or more phases of 45 scientific projects, from original research to clinical trials. What is more, the Hungarian researchers of the company also discovered two original molecules, which are now under development, Dehecq said. Having acquired Chinoin Rt in 1991, the group has invested more than Ft 100 billion in the Hungarian company to date. 300 of the 2,300 employees work in research and development. Aventis Kft. is currently Hungary's market leading drug manufacturer with a 10% market share, the company said.