Hungary's Richter plans investments in India

Budapest, June 7: Hungarian pharmaceuticals Richter plans investments in India as its production costs in Hungary have been boosted by changes in Hungarian regulations, CEO Erik Bogsch said today.

Hungarian drug makers were hit in the past year by increased taxes and payments into the state budget, a 12 percent special tax on the pharmaceuticals industry and a strengthening of the forint, Bogsch told the daily Magyar Hirlap in an interview.

''We plan to launch various projects in India where we can develop with investments of half the size (compared to Hungary) and with better results,'' he said, without disclosing further details.

Reuters
>