Top Pharma Executives 2024 Sample

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Published in 2024 • EDITOR-IN-CHIEF: Robin Marshall • EDITOR: Bence Gaál • CONTRIBUTORS: Annamária Bálint, Gergely Herpai, Mihály Kovács • LISTS: BBJ Research (research@bbj.hu) • NEWS AND PRESS RELEASES: Should be submitted in English to news@bbj.hu • LAYOUT: Zsolt Pataki • COVER IMAGE: sokolova_sv / Shutterstock.com • PUBLISHER: Tamás Botka, Business Publishing Services Kft. • Address: Madách Trade Center, 1075 Budapest, Madách Imre út 13-14. • Telephone +36 (1) 398-0344 • ADVERTISING: AMS Services Kft. • CEO: Balázs Román •

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HUNGARIAN PHARMA INDUSTRY

The following section delves into the dynamic world of Hungary's pharmaceutical industry through the eyes of its top executives and leading companies. As a pivotal sector characterized by rapid innovation and stringent regulations, the pharmaceutical industry faces unique challenges and opportunities that shape its trajectory. This series of articles provides a behind-the-scenes look at the strategic decisions, technological advancements, and leadership philosophies driving growth. Featuring firsthand accounts from key industry figures, we explore how these leaders navigate complexities to elevate Hungary’s status on the global healthcare stage. Join us as we uncover the personal stories, professional insights, and forward-thinking approaches that define the Hungarian pharmaceutical landscape.

by Halawi /

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Hungaropharma Marks 75 Years With Dynamic Investments

Hungaropharma is Hungary’s biggest pharmaceutical wholesaler, exceeding 40% of the market share, specialized to provide professional logistic services for the pharmaceutical and healthcare industry. The company operates as a 100% domestic privately-owned company, with László Dene, chief business officer and deputy CEO at Hungaropharma, emphasizing their responsibility to Hungarian medicine-production and investment of infrastructure. Hungaropharma’s operations are categorized as a critical infrastructure in Hungary, for their efforts in Hungarian healthcare.

The company marks its 75th year of operation this year, and between the change of top management in January and last year’s inauguration of the company's biggest investment to date, the company is looking forward to a dynamic future. It was officially handed over last October, and it is the third installment of our logistics centers..

What does the change of top management mean for the company?

László Dene: Our new top management officials represent the new direction our company is heading towards, setting goals that symbolize change and progress. The new perspective of the company can be observed in our new developments, our business politics, our communication, and our strategic thinking

How is the newest investment different from other medicinal storages in Hungary, and what does Hungaropharma hope to achieve with it?

LD: This building serves as a pharmaceutical warehouse, meant for the secure storage and management of medicine stocks. With this new investment, via its huge capacity and high-level quality, we can provide high-end pharmaceutical logistics and distribution services for our partners, not just in Hungary but all of our region. This specific storage unit is unique for multiple reasons; for one, it is Hungaropharma’s biggest investment so far, its cost nearing HUF 11 billion,

and it’s also a completely unparalleled building in Central Eastern Europe in the area of pharmaceutical logistics services. It’s a completely automatic warehouse, with the storage of the pallets of medicine taking place without any human intervention. The warehouse also operates on an oxy-reduction fire-prevention system, meaning there is a very low level, limited amount of oxygen within the warehouse, therefore it reduces the risk of conflagration to zero within the building. On a regional level, this building is the highest quality warehouse and distribution service in the area of pharmaceutical logistics.

As for why this investment was created, there are a lot of outside effects on the pharmaceutical industry, especially on pharmaceutical wholesale, that, based on each unique situation, market participants have to handle either rapidly or providently, which may include adjusting or adapting to new circumstances. These effects often stem from sudden changes in the market on an international level. Effects may include a medicine deficit, changes in energy costs, and any other economic factors that contribute to fluctuations in the global pharmaceutical industry. As a pharmaceutical wholesaler, we have to plan and prepare for these fluctuations in the market, and our new investment represents our development of planned reactions. We are hoping to give the pharmaceutical market answers to questions which haven’t been asked yet.

Laying the Groundwork for a Modern, Supportive Health System

The head of Roche Pharma International, Jörg-Michael Rupp, paid a visit to Hungary this year. We took the opportunity to talk with him about the most important healthcare developments of the past few decades as well as business, and healthcare trends in Hungary, Europe, and beyond.

By Robin Marshall

Why are you visiting Roche Hungary now?

Jörg-Michael Rupp: Within Roche, I’m responsible for operations in more than 100 markets, including European countries like Hungary. Regular visits like this allow me to accompany my colleagues to meetings with partners, healthcare professionals and government officials as we look to build stronger, more resilient and responsive health systems together.

We recently invited stakeholders from around the country to an event co-created in partnership with the Swiss Embassy, the Swiss-Hungariaan Chamber of Commerce, and the Business Council for Sustainable Development in Hungary (BCSDH). Our focus was the sustainability of healthcare, meaning how we can maintain and improve the health and wellbeing of individuals, communities and populations over time.

Balancing today’s health demands with tomorrow’s healthcare needs is a challenge every country faces. Ultimately, progress begins with a mindset of shared responsibility.

Hungary is a relatively small country. How important are its operations to Roche’s international business?

J-MR: Our legacy in Hungary goes back more than 40 years, and, as our continued investment in the country illustrates, it remains a very important and much-valued market internationally. Having created 746 new jobs in 2022 alone, we now employ 2,600-plus people in Hungary and are proud of the contribution we continue to make to the national economy. In addition to our pharmaceutical and diagnostics divisions, we have an SSC, which provides business services and solutions for Roche across Europe.

We also have 60 clinical trials underway in Hungary, which include 878 patients across 221 sites. Clinical trials have many benefits, including accelerating delivery of novel therapies, providing income, and generating cost savings through treatment and care. There is also evidence that patients have better outcomes when admitted to hospitals that carry out more clinical research.

Is there any unique work going on here in Hungary?

J-MR: Hungary has been making tremendous progress in digital health initiatives, investing in related infrastructure and promoting the use of electronic health records. The patient pathway tool, ‘Dr.BetMen,’ is a great example. Co-created with the government, this is a prime example of how partnership and cooperation can drive digital transformation and improve patient care. It perfectly exemplifies Roche’s patient-centered approach and commitment to making innovative contributions to healthcare systems.

What are the key global trends in pharma, and how is Hungary poised to adopt or accelerate them?

J-MR: Several key global trends are shaping the pharmaceutical industry’s future, and Roche plays a significant role in all of them. There is an increasing focus on personalized medicine, which involves tailoring medical treatments to individual patients and is driven by advancements in genomics and molecular diagnostics. AI has the potential to revolutionize healthcare, but must be used in a responsible way that benefits patients. The development and use of biopharmaceuticals, such as monoclonal antibodies and gene therapies, are on the rise. Biotechnology is enabling the discovery of novel treatments and revolutionizing disease

A Look at the Tax Challenges of the Pharmaceutical Industry in Hungary

It is never easy to find the way through the maze of tax legislation, especially when we are talking about an industry as complex as pharma. To take a deeper look at the incentives, benefits, and obligations, we asked EY Hungary experts Ildikó Ádám (partner, Life Sciences Industry leader) and Gergely Séra (partner) to explain the possible issues and opportunities hidden in the tax system.

Ildikó Ádám

What specific tax incentives are currently available for pharmaceutical companies investing in R&D in Hungary?

As there are industry specific taxes (also called clawback, sales tax, pharma tax), there are also incentives from such liabilities if R&D is performed by the Hungarian company in Hungary. Pharmaceutical industry is also subject to windfall taxes and if they perform R&D activities in Hungary, they can decrease their windfall tax liability. Otherwise, the general, i.e. valid for all industry, R&D tax benefits are available for pharmaceutical companies, such as corporate income tax, local business tax, R&D tax, social security contribution.

How does rethinking the sales model potentially alter the tax obligations of pharmaceutical firms? If the sales are performed via the Hungarian entity and the respective taxes and price-volume agreement (PVA) payments are carried out by the Hungarian entity, they can benefit from certain tax benefits. For instance, they can deduct their VAT liability by those amounts. Although, the deduction due to tax payment is not automatic, it is still subject to the approval of the European Court of Justice (ECJ). Moreover, if the Hungarian entity is performing R&D, e.g. contributing to clinical trials, they could be eligible for tax benefits in industry specific taxes as well.

Revolutionizing Personalized Medicine With AI-Driven Microscopy and Cell Analysis

Imagine a world where medical diagnostics are as seamless as creating images with AI, a world where individual cells are meticulously analyzed and tailored therapies are crafted with unprecedented precision. This vision is becoming a reality, thanks to advancements in artificial intelligence (AI) and microscopy.

By Bence Gaál

At the forefront of this revolution is the Lendület Microscopy Imaging and Machine Learning Group at the Szeged Biological Research Center, part of the Hungarian Research

Network (HUN-REN). Led by Péter Horváth, this group is part of an international consortium pushing the boundaries of single-cell analysis. Their work is pivotal in answering fundamental biological questions and translating these answers into diagnostic and therapeutic applications.

Photo by Wikipedia

An ornament in front of the Szeged Biological Research Center of the Hungarian Academy of Sciences.

Semmelweis Uni, Novartis Looking to Tackle Cardiovascular Diseases via New Lipid Management Center

This spring saw the opening of a brand-new Lipid Management Center in Hungary, which came into existence thanks to a three-way collaboration between Semmelweis University, the government and pharmaceutical firm Novartis Hungary. The main goal of the new center is to advance the prevention of cardiovascular diseases.

Photos by Bálint

Barta / Semmelweis Egyetem

Richter Hopes Cariprazine Will Become the Biggest-selling Atypical Antipsychotic in the History of the Pharma Industry

Gedeon Richter’s original antipsychotic drug Cariprazine is not only available in pharmacies in Hungary, but it has become a blockbuster product in the U.S., with sales in excess of USD 1 billion. The fact that a Hungarian drug candidate, discovered in Hungary and developed with Hungarian financial and technical support, has been granted FDA and EU registrations and is now available in 64 countries is a unique achievement.

The largest European Psychiatric Congress of the Year (EPA 2024 - European Congress of Psychiatry) was held in Budapest this April, and Richter was an active participant in the event, as the company's original research focuses on a wide range of neuropsychiatric and neurodegenerative diseases. On this occasion, the company's executives held a press conference to present Richter's research and development achievements to date and its plans for the future.

THE IMPORTANCE OF HUNGARIAN INNOVATION

Gábor Orbán, CEO of Richter, said at the beginning of the event, "Thousands of psychiatrists are arriving in Budapest to visit one of the citadels of psychiatric research, and perhaps even they do not know how important a role Hungarian researchers and research in this field have played and are playing worldwide. We have nearly 1200 Richter researchers, which is the largest innovation base – not only in the pharmaceutical industry – in the whole region.

Building Research on Data to Innovate Better Hungarian Health Outcomes

Talk to anyone involved in pharmaceuticals, and they will tell you that Hungary’s highly centralized healthcare system is sitting on a unique data goldmine that very few other countries possess. Learn how best to unlock that, and the results in terms of better patient health outcomes could be transformative.

Providing an Important Discussion Platform for the Pharmaceutical Industry

For years, the Budapest Business Journal has run events tailored to the CEO community we have helped to build. One of the most important sectors in Hungary is the pharmaceutical industry, and hence, the paper organized not one, but two Pharma CEO Breakfast events in the past few months.

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PHARMA EXECUTIVE BIOGRAPHIES

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