Indian biotech company RFCL has signed an agreement worth several hundred million forints a year to buy formulation and technology inputs for making hematology reagents from Hungarian peer Diagon, Diagon managing director József Kern told MTI.
RFCL's plant will supply some 6,000 laboratories in India with the reagents, meeting about one-fifth of the country's demand for the products.
India's hematology market is worth €42.5 million a year but is growing at an annual rate of 15%-18%, Diagon said.
Diagon exports laboratory diagnostic products from its plants in Hungary, Brazil and Indonesia to about a hundred countries around the world. Hematology reagents are its main product line. It also does research and development.
Diagon had profit of about HUF 400 million on revenue of HUF 6 billion in 2009. It spends an average annual HUF 700 million – HUF 800 million on R&D. (MTI-Econews)