Hungary-based Egis Pharmaceuticals PLC, a unit of French pharmaceutical company Servier Laboratories, is injecting 22 million euros ($24.9 million) at its base in Körmend, in western Hungary.
The current development is part of the company’s growth strategy and the extension and creation of these new capabilities and capacities essentially contribute to the further development of Egis due to the fact that all technological phases of highly potent drug development and manufacturing will be possible within the company.
The Körmend pharmaceuticals plant will now become capable of producing oncological products and other modern pharmaceuticals.
More than $3.8 million of the investment will come from non-returnable government funding.