Hungarian pharmaceutical companies' success reaches across borders
Gedeon Richter, the largest pharmaceutical manufacturer in Hungary, has grown into a key player in the CEE region. Moreover, the company has established a strong presence in the Commonwealth of Independent States, the European Union, Japan, China, and the United States. In 2022, Gedeon Richter’s revenue peaked at 802 billion forints, with a considerable share originating from exports. Hungaropharma, a domestic pharmaceutical wholesaler, also figures among the leading companies in the Hungarian pharmaceutical market, recording 423 billion forints' worth of revenue during the same year. The wholesaler occupies a significant share of the Hungarian pharmaceutical market and belongs to the country's most successful businesses based on its revenue.Hungary has a unique position among the Visegrád Group (V4) countries, as it is the only one recording a positive trade balance in terms of pharmaceutical products. In 2022, the value of pharmaceutical exports from Hungary reached 6.7 billion euros, while imports stood at 4.9 billion euros. Romania and Germany are the leading export markets for pharmaceutical goods manufactured in Hungary. France, Poland, and Czechia are among the main importers.
Hungarians have unequal access to pharmacies
Not only has the number of pharmacies operating in the country followed a decreasing trend over the past years, but there are also significant discrepancies when it comes to the regional distribution of pharmacies. While residents of Budapest can choose from a wide range of pharmaceutical retailers, the number of pharmacies in certain counties is particularly low. In 2022, Budapest recorded over 440 public pharmacies, while only 40 public pharmacies operated in Nógrád county, Not to mention, many pharmacies in smaller towns and villages operate exclusively for a couple of hours a week, seriously limiting the population's access to prescription drugs and different pharmaceutical products.In 2022, Benu became Hungary’s leading pharmacy chain with a revenue of 8.1 billion forints. The widespread Benu pharmacy network is operated by the German-owned Phoenix Pharma, a prominent pharmaceutical wholesale company. The domestically founded Pingvin pharmacy chain also figures among the market leaders, recording 6.7 billion forints of revenue in the same year, placing it second in the ranking.
