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Omninvest signs know-how transfer deal

Egyptian pharmaceutical company Vacsera is buying technology to produce human influenza vaccines from Hungarian peer Omninvest, state secretary to the National Development and Economy Ministry Ábel Garamhegyi told MTI.

The agreement on the acquisition was signed on Monday, after a meeting of the Hungarian-Egyptian economic mixed committee in Cairo.

Vacsera - Egypt's sole producer of vaccines - will expand capacity at its plant in Cairo to make the flu vaccines within two years, said Omninvest managing director Ferenc Zimonyi.

Omninvest has negotiated similar transfers of technology before, but this is the first time a transfer has been made, Garamhegyi said. Four or five similar projects involving Hungarian and Egyptian partners have been prepared, and these could be signed in one or two years, he added. (MTI – Econews)