Published: December 15 2023
The Hungarian government is focused on supporting and boosting the pharmaceutical industry to contribute to the growth of the country's economy. Efforts include incentives for pharmaceutical distributors and investments in research and development.
Commitment to the Pharmaceutical Industry
The government aims to increase the long-term competitiveness and performance of the Hungarian pharmaceutical industry. This includes making the industry self-sufficient in essential healthcare equipment, increasing the share of Hungarian products in the healthcare sector, and boosting research and development performance.
Importance of the Pharmaceutical Sector
The pharmaceutical sector in Hungary employs nearly 32,000 people and has a high value of production. Its competitiveness is demonstrated by the export sales and demand for Hungarian medicines abroad. The sector's research and development performance is also valued, contributing to its high value added per employee.
Recent Performance and Growth
Despite difficult circumstances, the pharmaceutical industry in Hungary has shown resilience and growth. The production value of the manufacturing sector increased by 14 percent in the first 8 months of the year, indicating the positive performance of the industry.
Supporting and developing the Hungarian pharmaceutical industry is a priority for the government, as it plays a vital role in the country's economy. Efforts are being made to enhance competitiveness, increase self-sufficiency, and boost research and development in the sector.
Questions & Answers
What is the Hungarian government doing to support the pharmaceutical industry? The Hungarian government is committed to increasing the long-term and sustainable competitiveness and performance of the Hungarian pharmaceutical industry. They are supporting the industry by reducing the extra profit tax liability for pharmaceutical distributors based on the value of their investments.
What is the goal of the Hungarian government for the recovery of economic growth in 2024? The government's goal is to increase employment by utilizing the labor reserve, lift the motive of caution, and further increase consumption and investment. They also aim to develop priority sectors, including the pharmaceutical industry.
What is the government aiming to achieve in the healthcare sector? The government aims to make Hungary self-sufficient in essential healthcare equipment and increase the share of Hungarian products in the healthcare sector from 15 to 30 percent. They also want to boost research and development performance in the sector.
How many people does the pharmaceutical sector employ in Hungary? The pharmaceutical sector employs nearly 32,000 people in Hungary.
What is the current value of production in the Hungarian pharmaceutical industry? The current value of production in the Hungarian pharmaceutical industry is more than HUF 1,200 billion (EUR 3 billion).
What is the percentage of export sales in the Hungarian pharmaceutical industry? Export sales account for 87 percent of the Hungarian pharmaceutical industry.
Why is the R&D performance of the pharmaceutical sector important for competitiveness? The R&D performance of the pharmaceutical sector is important for competitiveness because it contributes to the industry's high value added, which exceeds HUF 30 million (EUR 78,944) per employee.
How has the manufacturing sector in the pharmaceutical industry performed in the current situation? In the first 8 months of the year, the production value of the manufacturing sector in the pharmaceutical industry increased by 14 percent, indicating that the industry is performing well even in the current difficult situation.