Biotechnology

Hungarian and Japanese investors inaugurated a HUF 14 billion, 20MW biomass-fueled power plant in Szakoly (NE Hungary) on Thursday.

A government action plan supporting R+D and medical biotechnology in Hungary's drug industry aims to increase competitiveness.

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

US pharmaceutical company AMRI opened its research center in Budapest on June 24, the company announced.
The center reportedly cost several million USD.

KV Pharmaceutical Company on 19 June announced that it entered into an agreement with Gedeon Richter, Plc. of Budapest, Hungary, and jointly with Gedeon Richter USA for licensing rights to some of KV’s technologies and products in Women’s Health.

Gedeon Richter Plc Sales amounted to HUF 61,338 million (EUR 206.7 million) in the three months to March 2009, a 7.6  pct increase (in Euro terms 6.0  pct decline) when compared with the same period of 2008.

Austrian oil and gas company OMV has sold its 21.2 pct stake in Hungarian peer Mol to Russian oil company Surgutneftegas for EUR 1.4 billion, OMV announced on March 30.

Hungarian drug maker Gedeon Richter’s consolidated Q4 after-tax profit jumped 136.4 pct to HUF 15.9 billion from the same period a year earlier.

Russian news agency Itar-Tass reported on January 13th 2009 that Gazprom had resumed gas transmission to Europe at 8am, Central European Time.

Russian gas shipments via Ukraine to Hungary halted at 15:30 on January 6th 2009.