The government responded to the economic challenges with among other things, the factory rescue program, Tamás Menczer noted.Continue reading
The government continues to do everything possible to ensure the international competitiveness of the Hungarian pharmaceutical industry, one of the results of which is that the sector’s performance has doubled in ten years, Minister of Foreign Affairs and Trade Péter Szijjártó said in Budapest on Friday – reports MTI.
The ministry said at the announcement of the Novartis investment that the Swiss pharmaceutical company will establish a new regional research and development center in Budapest, from where it will coordinate its research projects in Southern Europe and Africa. The development will increase the number of R&D staff by 25 percent –
This investment will be a win for the country; a win for the economy as added value will continue to increase, and a win for patients who will have the opportunity to participate in Novartis clinical research programs
he said. He added that the company, which employs more than 400 people in Hungary, now has 65 clinical trials running in Hungary, with tens of thousands of Hungarians participating in such programs over the past ten years.
Szijjártó stressed that
the world is living in an era of crises and dangers, and humanity is also facing serious challenges in the field of health, with a serious race between the scientific community and viruses.
It has become clear from the experience of recent years that the success of a country’s response to epidemics and health challenges is largely determined by its pharmaceutical capacity – he said.
Antibiotics are in short supply in a growing number of European countries.
It has become a strategic capability, strategic knowledge and strategic asset. Therefore, the Hungarian government will continue to do its utmost to ensure the further improvement of the international competitiveness of the Hungarian pharmaceutical industry and the necessary competitive and innovation stimulating environment, he added. He underlined that the pharmaceutical industry is one of the backbones of the economy, relying on both domestic and foreign players, as illustrated by the 23 major pharmaceutical investments in Hungary since 2014.
The minister underlined that the sector’s production value reached HUF 1,200 billion (Euro 3.22 bil.) last year, which is a huge record and practically doubled the sector’s output in ten years. During this period, the number of people working in the pharmaceutical sector has increased one and a half times, and now exceeds 30,000.
He said 87 percent of the products manufactured are exported to 126 countries around the world. Hungary is ranked 20th in the world in terms of pharmaceutical exports, but only 95th in terms of population. He said that last year, the value of bilateral trade between Hungary and Switzerland exceeded two billion euros, a new record, following a 13 percent increase.
Some 900 Swiss companies are now operating in Hungary, employing more than 30,000 people, he said.
Featured image: Facebook/Szíjártó Péter
