Hongene Biotech, headquartered in Singapore, is investing HUF 36 billion (approx. EUR 90 million) in its first European plant for the production of active pharmaceutical ingredients, which is being established in Gödöllő. The investment by the Hongene Biotech Group is supported by state aid amounting to HUF 7.5 billion (EUR 18.7 million), as it will create 150 jobs in a high value-added sector. These are high-tech products intended primarily for export markets. In addition, the Gödöllő site will support dual vocational training.
The Hungarian pharmaceutical sector, with nearly 40,000 employees, achieved a production output of HUF 1,330 billion (EUR 3.3 billion) last year, with an export ratio of 85%. Hungary ranks 19th in the world among the largest medicine exporters.