Gedeon Richter keeps eyes on Asia

November 03, 2010 | 16:45

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Hungary-based pharmaceutical company Gedeon Richter may develop a manufacturing base in Asia and Vietnam might be one of the firm’s choice.

Gedeon Richter in Vietnam chief Ritter Tamas made the announcement during the anniversary of 55 years in Vietnam.

“We have had many manufacturing negotiations in the recent years in Asia, but not concluded an agreement yet,” said Tamas.

Currently, the top 20 eastern European manufacturer of generic pharmaceuticals in Research and Markets’ ranking is doing development and research in Europe only and has mostly built its manufacturing facilities there.

Last few years, the firm found good alternatives for investment in the Asian region for its manufacturing. However, the firm have not met any good choice till now.

Tamas said Vietnam was Gedeon Richter’s second largest market in Asia.

Last year, the foreign pharmaceutical company earned some $16 million in local sales in Vietnamand sales in 2010 are expected to jump by 15 per cent.

Hungary’s ambassador to Vietnam Vizi Laszloalso highly appreciated the firm’s relation and cooperation in Vietnam.

Laszlo hoped for more trade and investment cooperation between Vietnam and Hungary in new fields such as energy, information technology, mining, infrastructure development and environment protection.

Bilateral trade turnover between Vietnam and Hungary hit $91 million in 2009 despite the global economy crisis.

“Furthermore, the excess of imports over exports of Hungary to Vietnam have been improved. An increase of 23 per cent in Hungarian exports to Vietnam in the first half of 2010 demonstrated this trend,” said Laszlo.

By Minh Thien

vir.com.vn

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