HUNGARY'S EGIS SEEKS STRATEGIC PARTNERSHIP

Egis Pharmaceuticals is the latest Hungarian drugmaker to seek a strategic partnership as part of the on going privatization of state-owned Hungarian companies. With a 19% share of domestic sales, Egis is the undisputed market leader in Hungary, according to Peter Hahn of Cambridge Pharma Consultancy, who notes that in the nine months to September 1991, Egis achieved sales equivalent to $132.2 million, with an operating profit of $41.9 million (31.7%).

Cambridge and Credit Suisse First Boston have compiled an information memorandum on Egis, in which they describe the company as a well-managed one which, unlike many central and eastern companies, is in a healthy financial position.

Egis also has its own research capability, with high-quality staff and some promising novel, patented lead compounds entering early development. Egis has a res-earch capability in the central nervous system area which, according to Mr Hahn, is one of the most exciting and promising areas of research within the pharmaceutical industry.