10% Growth Forecast For Hungary's Pharma Industry

A 10% expansion of pharmaceutical production is forecast for Hungary over the next five years by MAGYOSZ, the National Alliance of Hungarian Pharmaceutical Producers and Wholesalers. The seven largest pharmaceutical companies in the country, which represent 90% of the total market, reported sales of 60.3 billion forint ($57.5 million) last year, up 25% on the previous year, according to MAGYOSZ chairman Laszlo Buzas.

Domestic turnover of the seven companies reached 31.4 billion forint for 1993 and exports totalled 28.9 billion forint, with active ingredients representing 30%-35% of this, reports the journal Hungarian Economy. Drug sales to pharmacies and hospitals at manufacturers' selling prices were worth 50.94 billion forint and at retail sales level the figure was 68.3 billion forint, according to MAGYOSZ figures, but Central Statistical Office figures make this 70.7 billion forint at consumer prices for 1993.

Imported Drugs Carry Much Higher Price Tag Imported drugs are said to carry considerably higher prices than Hungarian-made products, the latter having an average unit price of 97 forint last year compared with 469 forint for imported drugs. In 1992 the average prices were 85 forint and 313 forint respectively.