Animal vaccine maker Ceva-Phylaxia has announced it will invest HUF 10 billion in a new research, development and production facility in Monor, central Hungary.
Péter Szíjjártó, Minister of Foreign Affairs and Trade, said the French firm will invest HUF 8.17 billion in the new facility, complemented by a non-refundable state grant of HUF 1.83 billion, bringing the total to HUF 10 billion.
The foreign minister added that the state grant was justified by the fact that the company will create jobs for highly qualified personnel and bring innovative technologies to Hungary.
Phylaxia was first established in Hungary in 1912 and was acquired by French veterinary medicine maker Ceva Santé Animale in 1999, forming Ceva-Phylaxia.
Minister Szíjjártó revealed that the pharmaceutical sector has the highest production and research activity among Visegrád countries, employs some 30,000 people and last year made total revenues of HUF 810 billion.