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Hungarian drug makers count on rising revenue in 2010

Three-fourths of Hungarian drug companies expect their revenue to rise in 2010 from the previous year, according to a survey by consultancy PricewaterhouseCoopers (PwC) conducted in December.

Only one-fourth of the companies planned big capital expenditures in 2010. Planned investments average about €30 million and none is worth more than €50 million, which is moderate for the sector, according to PwC.

Three-fourths of the companies said they planned to continue cost-cutting measures started in 2009.

Almost two-thirds said overdue receivables were a problem. Half said there was a shortage of qualified labor in the industry. One-third complained that it was difficult to get EU and state funding for R&D activities. (MTI-ECONEWS)