Zentiva NV, eastern Europe's third-biggest drugmaker, bought a portfolio of Sanofi-Aventis's generic medicines in Hungary, where drug consumption is above the eastern European average.
Zentiva bought 23 generic pharmaceutical products and related sales staff and operations, company spokeswoman Vera Kudynova told Bloomberg in an interview. The portfolio of medicines last year generated sales of €11 million ($14.5 million,) Zentiva said in a separate press release. The transaction's purchase price was not disclosed. „The move into the Hungarian market is in line with Zentiva's strategy of extending its geographic reach in the region,”the Amsterdam, the Netherlands-registered company said. Zentiva has main operations in the Czech Republic, Romania and Slovakia. Zentiva plans to expand its Hungarian business by selling generic products to the state health-care system. Hungary, a member of the European Union with a population of 10.1 million, has one of the highest levels of spending on drugs per capita in central Europe, Zentiva said. The Hungarian retail market was valued at $2 billion last year and has been growing 10% a year, Zentiva said. Generic drugs account for approximately one quarter of the overall market. Zentiva said it expects growth in the Hungarian drug market to slow this year because of new health care measures aimed at cutting spending. (Bloomberg)