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Drug maker begins operations in Hungary

A new drug company, Astellas Pharma Kft began operations in Hungary and expects a turnover of Ft 3.4 billion-Ft 4 billion in its first fiscal year, management said.

Manager György Markovich said the firm, a subsidiary of Astellas Europe Ltd, is starting operations with a staff of 40 and will be producing dermatological, urological and transplantation products. Their target for the next three or four years is to gain a 1% share of the Hungarian market, valued at about Ft 5 billion, Markovich said.