Drugmaker Egis to Launch New R&D Hub in Budapest

Hungarian pharmaceutical Egis is about to set up a new research and development center in Budapest

Hungarian pharmaceutical Egis is about to set up a new research and development center in Budapest, scheduled for completion in December 2010. The project is worth HUF 3.78 billion and will receive funding from Hungary's Investment and Trade Development Agency (ITD Hungary), wire service MTI reported. The 3,500-sqm pharmaceutical lab and trial production facility will have a staff of 70 and enable the company to hire 20 new researchers, Egis CEO Péterné Gál said. EGIS Pharmaceuticals Plc is one of the leading pharmaceutical companies in Central Europe, realizing in the business year of 2007/2008 net sales of HUF 96 008 million. This result was 4 pct higher than the net sales in the previous year. Egis’s majority shareholder, and strategic partner is the French company Servier, which holds, through its affiliated firm, ATP, 50.91 pct of EGIS shares.
 

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