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HATC SAMPLE EDITION:
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4th April, 2025
Pharma sector remains major economic driver
Hungary is the world’s 19th largest pharmaceutical exporter, as drugmakers here generate more than 80% of their revenues from exports, which exceeded €9 billion in 2023, speakers said at the 35th anniversary celebration of the pharmaceutical manufacturers’ association Magyosz.
The industry remains a pillar of Hungary’s economy, as its companies generate Ft 1.7 trillion in net revenue annually.
The sector accounts for 29% of total R&D spending in manufacturing, while 51% of its output comes from value-added production.
Hungarian medicines have an established market presence in more than 100 countries.
Economy Ministry state secretary Máté Lóga recalled that the government and Magyosz had signed an agreement last year on co-operating to advance the competitiveness of the sector and the economy.
Hungary’s competitiveness strategy for 2024-30 aims to boost the share of domestically produced pharmaceuticals from 15% to 30%, he added.
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Sources regularly consulted, with abbreviations used in text: Népszabadság (N); Magyar Hírlap (MH); Világgazdaság (VG); Napi Gazdaság (NG); Magyar Nemzet (MN); Népszava (Nsz); Kossuth Rádió news (KR); nightly TV news (TV).
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