Hungarian Drug Exports Rise 54% in First 10 Months of 2004

According to official statistics, Hungary's exports of pharmaceuticals and medical products were 54% higher year-on-year during the first 10 months of 2004, at some US$895mn. Meanwhile, imports grew 28% over the period, to US$1.28bn.

Hungary's drugmakers are increasingly seeking out new markets, as domestic demand remains stagnant amid the government's continued price-cutting policy, which included a price freeze in mid-2004. The results compare favourably with Polish exports of US$120mn in the first half of the year, probably due to the continued strong international presence of leading Hungarian drugmakers such as Gedeon Richter.