French-owned Hungarian pharmaceutical company Egis Gyógyszergyár Plc. is set to implement another large-scale investment to boost efficiency and capacity at its base in Körmend, the Hungarian Investment Promotion Agency (HIPA) reports.
The EUR 37.5 million investment include the modernisation of the a tableting plant and the galenic plant, and the extension of the storage facility of the site in the western Hungarian town.
The project will be carried out with the support of HIPA and is based on the increasingly dynamic growth in demand for the company's finished products and active substances, which are distributed to more than 100 countries.
HIPA has already supported Egis in several major investments to strengthen and expand the facility in Vas County, which accounts for around 60 percent of its finished products manufacturing. The company, which is active in all areas of pharmaceutical value creation from R&D to production and from packaging to distribution, has been continuously developing the Körmend site for almost ten years. Investment projects included the establishment of a plant with special knowledge and technology requirements, typically suitable to manufacture oncology products.
Egis, founded in Budapest in 1913, is part of the France-based Servier Group. It has a portfolio of more than 650 products and has invested EUR 50 million in R&D in the 2023-2024 financial year alone.
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