HUNGARY'S DRUG EXPORTS SURGE, BUT IMPORT DEMAND STAYS STRONG

Official data indicates that Hungary's drug imports remained ahead of exports in the first seven months of 2005. Total imports reached US$1.02bn, 14.8% higher year-on-year. However, exports are also growing rapidly, rising 33.2% in the same period to US$816mn.

Hungary is Eastern Europe's leading generic drug exporter, with the manufacturing sector achieving significant regional success in recent years. Additionally, a significant share of production is held by leading generics makers such as IVAX/Teva.

However, rising consumer demand, especially for high-tech patented medicines, has driven a surge in imports despite the reimbursement system's financial problems. This trend is likely to continue in the future as both consumer income and health awareness grows in Hungary. However, the local drug sector's modernisation could reduce reliance on more sophisticated medicines.