Pfizer Could Pick Hungary for USD 30 m R&D Centre

US pharmaceutical giant Pfizer could set up a USD 25-30 million R+D centre in the Hungarian city of Szeged, business daily Vilaggazdasag reported on August 1st 2008. Pfizer Hungary managing director Mario Gattino told the paper that the unit had submitted an application to host the centre in July.

The parent company is expected to choose between other subsidiaries competing for the centre in the autumn. The Hungarian government has already reassured Pfizer that it would award the company a grant if it decides to put the centre in Szeged, but Pfizer's decision might be easier if the government were to allow drug companies to write off R&D costs from a special tax on subsidized medicines introduced last year, he said. The centre would employ 75-120 researchers.

News Monitoring