Novo Nordisk In Hungary
Novo Nordisk of Denmark hopes to achieve sales of 2 billion forint($11.24 million) this year in Hungary, according to a report by MTI Econews. The company accounts for around 60% of the Hungarian insulin market, and has a large percentage of total sales of hormone products.
The firm's Hungarian unit, Novo Nordisk Hungary, started operations at the beginning of 1997, with registered capital of 100 million forint. In 1996, Hungarian turnover was 1.7 billion forint.
Hungarian drug firm Human has an agreement with Novo Nordisk to manufacture over half of all insulin products the latter sells in Hungary. Some insulin products are 100% subsidized by the country's Health Fund.
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