“The Hungarian pharmaceutical sector is worth over 3 billion euros and approximately 85 percent of products are exported,” said Dr. Dávid Greskovits, managing director of Meditop Pharmaceutical Ltd.
“We are recognized for having high standards and for delivering high-quality products,” added Dr. Zoltán Ács, Meditop’s co-managing director. “Our well-established global connections provide us with our competitive advantage.”
Greskovits and Ács founded Meditop in 1991, and it was the first pharmaceutical business to obtain a pharmaceutical manufacturing licence after the fall of the communist regime.
Started as a contract manufacturer for pharmaceutical companies in Europe, Meditop established a research and development facility to develop products in-house.
As a midsize player in the pharmaceutical industry, Meditop specializes in products for the central nervous system (CNS). The company has 13 registered pharmaceutical patents with licenses in Hungary and other European markets.
Today, Meditop’s second-largest export market, after Germany, is Vietnam. The company has also reached out to Singapore.
Flagship products include the cognitive-enhancer Memoril (piracetam) and the muscle-relaxant Miderizone (tolperisone hydrochloride).
“We were the first company to develop the molecule tolperisone as a high-quality generic product,” said Ács. “This product is popular in Asia and is included in the Japanese Pharmacopoeia.”
Meditop has recently signed partnerships across the European Union and Canada for the development of new products, aiming to expand its CNS line and secure a leading position in the industry.
“Meditop is an ideal partner for Japanese pharmaceutical companies such as Eisai, a company that also has very good CNS products,” explained Ács. “We are able to register, launch, distribute and promote products, not only in Hungary, but also across Europe.”
“We want to establish synergies with other small and midsized pharmaceutical companies around the world,” concluded Greskovits. “Our size allows us to fully commit ourselves to developing partnerships with key industry players to create win-win ventures.”