Budapest, September 25, 2012.
Egis Pharmaceuticals PLC has expanded its production site located in Budapest's 16th district with two new R&D investments. The company's strategic goal is to launch more products in a shorter time with the help of its drug development centers. The company has constructed its new Pharmaceutical Development Laboratory & Pilot Plant and its new Analytical Development Laboratory in accordance with this. The new investments are going to be inaugurated on September 25 by Hungary's Prime Minister Viktor Orbán.
Through the investments, a new, 3500-square-meter Pharmaceutical Development Laboratory & Pilot Plant will be inaugurated today. It is twice as big as the former facility with four times as many clean areas and doubled pilot production capacity. The other facility to be inaugurated today is the 5500-square-meter Analytical Development Laboratory, which - in line with the increased capacity of the new Pharmaceutical Development Laboratory & Pilot Plant - provides analytical support and by so, it further accelerates product development.
In addition, Egis' new analytical testing laboratory carrying out tests that are essential to the marketing of biosimilar products has also been constructed here. This project is co-financed by the Europan Regional Development Fund with a support of HUF 97 million. As a result of the altogether HUF 7 billion investments, which have received HUF 226 million government subsidy, a total of nine thousand square-meter research and development center will be inaugurated at Egis PLC's production site located in Budapest's 16th district. The investments together create new jobs for more than fifty highly qualified professionals and provide a cutting-edge working environment for a total of 135 people. The creation of the new R&D capacities has largely been facilitated by the fact that the Hungarian government allowed the research and development related write-offs from the pharmaceutical extra taxes.
Egis is one of the leading pharmaceutical companies in Hungary and the Central Eastern European region. The company's history dates back to nearly a century and its activities extend to every field of pharmaceutical production from research and development through the production of APIs and finished products to sales.
It has carried out research and development activities and production of active pharmaceutical ingredients and finished products only in Hungary since the foundation of the company. In the past twenty years it has dedicated HUF 130 billion to investments. 76% of the company's turnover derives from export and its products are sold to more than 60 countries in the world, out of which Egis has representative offices and subsidiaries in 18 countries. Egis employs nearly 4000 people at its Hungarian production sites and foreign offices and it is the 26th biggest employer in Hungary.
The company dedicates an increasingly significant amount, 9% of its turnover to research and development, which amounted to HUF 11.6 billion in the 2010/2011 business year. With this Egis dedicates the 4th largest sum to innovation among the companies of Central Eastern Europe.