Zentiva buys drug portfolio in Hungary from Sanofi

...Sanofi-Aventis to expand its central European presence, Zentiva said on Thursday.

In entering the Hungarian market, Zentiva acquired -- for an undisclosed price -- the generic products which it said had sales of 11 million euros ($14.54 million) in 2006.

France's Sanofi-Aventis has been the firm's largest shareholder with a 24.9 percent stake.

Zentiva, one of central Europe's biggest pharmaceutical firms, said it expected to expand its presence in Hungary by introducing more of its own generic drugs.

"Zentiva believes that it can play an important role in the primary care market in Hungary," Jiri Michal, Chairman and Chief Executive was quoted as saying in a statement.

"Our entry into Hungary represents a further step towards our goal of becoming the leading pharmaceutical company in Central and Eastern Europe."