Egis Reports Growth In 1996 1st Qtr

Hungarian pharmaceutical company Egis achieved gross profit in the first quarter of 1996 of 1.6 billion forint ($10.8 million), up 38.9% on the like, year-earlier period. Operating profits were ahead 33.3% to 1.5 billion forint and sales were 6.1 billion forint, up 22%, according to MTI Econews.

Turnover in the firm's domestic market advanced 27.4% to 4 billion forint, including 605 million forint from the Hungarian Health Insurance Fund for delays in increasing drug prices.

In dollar terms, first-quarter fell 10% to $14.7 million. However this figure does not include exports worth $4.2 million for which payment has not yet been received. Exports rose in forint terms by 12.7% to 2.1 billion forint. Reports add that exports in the first quarter of last year were unusually high because of the placement of a new product on the German market.