Glaxo Wellcome In Czech Republic
Glaxo Wellcome is relatively happy with the investment conditions existing in the Czech Republic, says its director of Eastern Europe, Simon Davidson. The company has been present in the Czech market since 1991 and is gradually introducing new drugs, reports the CTK news agency's Business News.
Mr Davidson is reported to have said that the problem in the Czech Republic and Hungary is the excessive capacity of the domestic market.
Glaxo Wellcome has a 2% stake in the pharmaceutical markets in the Czech and Slovak Republics, 3% in Poland, and 6.8% in Hungary. He noted that regarding the registration of new pharmaceutical products, the process takes around 18 months in the Czech Republic, which is some 50% longer than the Central European average of one year.
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