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Teva plans expansion in Hungary

Teva Pharmaceuticals eyes Hungary for R&D and expands production in Gödöllő.

Teva Pharmaceutical Industries plans to further expand production at one of its plants in Hungary, and it could set up an R&D center there, CEO Shlomo Yanai told business daily Világgazdaság.

“We plan a further expansion at our sterile products plant in Gödöllő, and we are thinking of setting up a research and development centre in this city in Pest County,” Yanai said. “This naturally depends on a number of external factors, but, in any case, we want to take the opportunity of using the talented, well-educated workforce here,” he added.

Asked about Teva's relations with the new government, Yanai said he had already met for talks with Prime Minister Viktor Orbán.

“It appears the prime minister is open to helping the companies that operate here, and I think his proposals are pointed in the right direction,” he said. “I do not want to speak about what those were exactly right now,” he added.

Yanai said Hungary had become “the heart of our European operations” and plays a “major role in supplying the European market, both in terms of manufacturing and packaging”.

Teva has increased its production sevenfold in Hungary since it started operations here in 1995, Yanai said. “It is, of course, impossible to maintain this growth rate, but it is a fact that we have become a major player both in manufacturing and distribution”, he said.

Teva inaugurated a HUF 20 billion drug packaging plant at its base in the Hungarian city of Debrecen a week earlier. (MTI – Econews)