Business
Budapest-Based Pharmaceutical Giant Takes Central Role in Asia
Egis Pharmaceuticals Zrt. Forges Collaboration with Uzbek Pharmaceutical Authority
Egis Pharmaceuticals Zrt. has announced a significant cooperation agreement with the pharmaceutical authority in Tashkent, the capital of Uzbekistan. The primary aim of this partnership is to support the development of pharmaceutical regulations in Uzbekistan and enhance access to medications. Under this agreement, Egis will offer professional guidance for the advancement of Uzbek pharmaceutical regulations and the professional growth of the authority's personnel. Of particular focus will be the regular exchange of information and experience, a critical endeavor for the Uzbek pharmaceutical market, which is grappling with quality-related challenges.
Egis, which is a part of the France-based Servier Group, markets its products under its own brand in 17 countries and has a presence in 62 countries.
In its most recent financial year ending in September 2022, Egis reported sales revenues exceeding HUF 219 billion (USD 595.8 million) and a net profit of HUF 33.35 billion (USD 90.7 million). The previous financial year concluded with sales of HUF 193.7 billion (USD 527 million) and a profit of HUF 19.5 billion (USD 53 million).
The economic ties between Hungary and Uzbekistan continue to strengthen, with increased trade volumes between the two nations even amid a global economic slowdown. Exceptional cooperation is evident in various sectors, including pharmaceuticals, information technology, agriculture, food, machinery, and chemicals. Notably, this collaboration is not the first of its kind between the two countries in the field of science. Earlier this year, Dr. Kamal Saidakbarovich Rizaev, Rector of the Tashkent Pharmaceutical Institute, engaged in discussions with Semmelweis University, indicating the potential for Hungarian-Uzbek cooperation. While no specific areas of partnership were identified during their initial interaction in 2021, both institutions have expressed openness to explore concrete avenues of cooperation in the near future. The meeting culminated in the signing of a Memorandum of Understanding between the two institutions.
