Ceva-Phylaxia Vaccine Production Cls. is constructing a new vaccine production plant and a research and development centre in the Pest County city of Monor with an investment of some 10 billion forints (EUR 31 million).

At the press conference held to announce the project, Minister of Foreign Affairs and Trade Péter Szijjártó told reporters that the Hungarian Government is providing a further 1.64 billion forints (EUR 5.1 million) in funding towards the 8.17 billion-forint (EUR 25.4) investment. The Minister justified the state investment with the fact that the new plant will be providing jobs for highly trained employees and will be bringing innovative technology to Hungary. “In addition, veterinary health is a sector of national economic importance in view of the fact that export bans resulting from livestock diseases cause a significant reduction in revenues”, he added.

The Minister stressed that the pharmaceutical industry is a traditional strong sector of the Hungarian economy, and the ratio of pharmaceutical industry research and development is the highest in Hungary from among the countries of the Visegrád Group; last year, the production value of the sector, which employs 30 thousand people, exceeded 810 billion forints (EUR 2.52bn). “84.5 percent of the pharmaceuticals produced in Hungary are exported, and Ceva-Phylaxia realises an even higher export ratio of almost 95 percent”, he added. The Minister noted that outside Hungary the company only performs research and development activities in the United States and Japan, and is the third largest producer on the poultry vaccines market.

At the press conference, Chairman of Ceva-Phylaxia‘s board of directors Tierry Le Flohic pointed out that half of the company’s research and development staff, over 130 people, work in Hungary. The company is able to market its products in South America, Africa, China and other Asian countries, and in Brazil every second chicken is protected from diseases by vaccines produced in Hungary, he added. The company’s director told reporters that the company has realised over 100 million euros in investment over the past ten years and is expanding its production capacity by some 20 percent every year.

(MTI)