Hungarian-owned Goodwill Pharma inaugurates pharmaceutical factory and innovation centre

Goodwill Pharma Nyrt. has expanded its warehouse capacity, built a research and development and innovation laboratory, a new head office and a pharmaceutical manufacturing plant in Szeged, Hungary, the almost HUF 5 billion investment was inaugurated on Thursday.

Ferenc Jójárt, CEO of the Szeged-based company, said at the ceremony that Goodwill Pharma is proof of how a rural town in Hungary can be turned into a multinational pharmaceutical company.

Between June 2022 and the end of November last year, the Hungarian Multi Programme delivered 1.767 billion HUF in conditionally non-reimbursable EU and national funding for three sites.

The company has set up a logistics centre with enough space to store 4-5 thousand pallets of medicines. It has built a manufacturing plant that meets pharmaceutical industry standards, and the first machines have already arrived, so the first Szeged-made medicines could be ready by the end of the year or early next year.

The company has set up a new pharmaceutical laboratory to expand its research and development activities, and a new office building in the centre of Szeged, said the CEO.

They go public

The company is planning to enter the standard market of the Budapest Stock Exchange (BSE) within a month, to carry out a further private capital increase and, if the market situation allows, to launch a public offering in the second half of the year, the expert said.

Investments continue

Goodwill Pharma is raising capital to make acquisitions in addition to further technological improvements. A new investment is planned for a medicinal herb processing plant and related manufacturing structure, said Ferenc Jójárt.

The CEO said that the company's long-term goals include reaching a capitalization of one billion dollars in a few years, increasing the number of employees to the thousands, and becoming one of the most innovative companies in Hungary.

Goodwill Pharma is a dynamically growing group of companies with more than 25 years of experience in the pharmaceutical industry, based in Szeged, Hungary. It started as a Hungarian pharmaceutical company and became a multinational player in the pharmaceutical industry in Central and Eastern European countries. The group's largest export market is Serbia, but Goodwill Pharma Nyrt. also has subsidiaries in Croatia, Bosnia, Montenegro, Slovakia, Poland, Romania and, since the end of last year, in the Czech Republic and Austria. Outside the European Union, the company exports to the United States and, from this year, to Georgia and Mongolia. The group's main activities include the development and production of dietary supplements, pharmaceutical manufacturing, drug registration, logistics and distribution, full-service pharmaceutical marketing, medical drug information.