B-MS Moves In Hungary
The research center opened in Hungary by the Pharmavit-Bristol-Myers Squibb company in October (Marketletter November 4) will spend $1 million on clinical trials of six pharmaceutical products in 1996 involving 200 patients, reports MTI Econews.
The sum to be spent and the number of patients involved will increase substantially in 1997. It is envisaged that the center, one of three such units in eastern Europe and Russia, will focus on research into the treatment of cardiovascular, circulatory and tumor diseases.
The synthesis of Pharmavit will see joint activities spreading from research through to marketing. B-MS purchased a 77% stake in Pharmavit in 1995. The firm achieved sales of 1.7 billion forint ($11.2 million) in the Hungarian market last year. This figure is expected to rise to 2 billion forint in 1996. In addition, turnover of nutritional supplements in 1995 was 1.2 billion forint.
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