Thanks to Medi-Radiopharma’s research and development investment, Hungary could become one of Europe’s hubs for diagnostic drug manufacturing. Moreover, the project will create dozens of new jobs in Érd (central Hungary) and Budaörs (Budapest metropolitan area), Minister of Foreign Affairs and Trade Péter Szijjártó announced on Monday at the site.
The minister stated at the announcement of Medi-Radiopharma Kft.’s new research and development investment that the Hungarian pharmaceutical company is undertaking a groundbreaking, globally unique manufacturing technology development, which will enable the early and accurate detection of numerous diseases. The government is supporting the project with a grant of 750 million forints (1.93 million euros; 1 euro = 389 forints), thereby helping to create thirty jobs, including twenty that require high qualifications.
Foreign Minister Péter Szijjártó during the press conference. Photo: MTI/Kovács Márton
In his speech, the minister explained that the investment will clearly position Hungary as a European leader in the field of diagnostic drug manufacturing; moreover, given the company’s high export share, this has global significance in maintaining the stability of supply chains.
“The accuracy and speed of patient care will also increase dramatically, and it is important to note that this new manufacturing technology, which is currently being developed, fully complies with the extremely complex international quality assurance regulations governing pharmaceutical manufacturing,” he said.
Péter Szijjártó welcomed the fact that the Hungarian economy has now become a knowledge-based economy, which, in his words, is thanks to Hungarian engineers, researchers, specialists, and workers.
Hungarian companies are now among the global market leaders in the most modern industries—those requiring the most research, development, and innovation,”
“This is particularly true in the pharmaceutical industry. We rank 96th in the world in terms of population, but for many years now, we have consistently been among the world’s twenty largest pharmaceutical exporters,” he added. “And in the global pharmaceutical industry, if we look specifically at the production of diagnostic drugs and radiopharmaceuticals, we see that Hungary’s role and influence in these areas generally exceed our overall weight in the pharmaceutical industry,” he stated.
He also noted that over the past few years, agreements have been reached on state support for fourteen local investments, resulting in investments worth more than 70 billion forints and creating roughly a thousand new jobs.
Via MTI; Featured photo: MTI/Kovács Márton
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