Gedeon Richter Opens $110 Million Biotechnology Plant in Hungary
The new factory will make protein samples for clinical tests using mammal cells and start producing drugs for treating cancer and inflammation in 2014, Erik Bogsch, Richter’s chief executive officer, said at the opening ceremony. Richter received 1.4 billion forint in government subsidies for building the plant.
Richter, a generic-drug specialist, wants to break into the global market for biopharmaceuticals -- medicines created by manipulating cells and genes. The company has spent 214 billion forint in the past 10 years and is the only Hungarian business to own a Europe-wide sales network, Bogsch said.
The share of biotechnological products in the global pharmaceuticals market is set to increase, said the company. Every third pharmaceutical product licensed in the European Union was biotechnological, Richter said.
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