British Pharmaceutical company GlaxoSmithKline (GSK) has launched a new $59.2 million vaccine unit near Budapest.

GSK says the new site at Godollo will be one of Europe's most advanced biotechnology plants and will manufacture two types of vaccines.

The plant will make components of a vaccine for diphtheria, a serious bacterial infection that affects the mucous membranes of the throat and nose.

It will also work on tetanus vaccines when manufacturing begins in 2023 following regulatory approval.

The project was launched to cater to growing demand worldwide and is a small part of the company's overall presence.

According to the World Health Organisation (WHO), diphtheria epidemics remain a health threat in developing nations. It also estimated that neonatal tetanus killed about 30,848 newborn children in 2017.

GSK said the new unit will triple production to 130 million units annually and is one of the company's strategic investments in Europe.

Hungary's minister for foreign affairs, Peter Szijjarto took part in the opening ceremony on Tuesday.

GSK is the world's seventh largest pharmaceutical company, with products available across 150 countries.

The company has 89 production units around the world with major centers in England, the US, Belgium and China.

In 2018, the company recorded a turnover of approximately $42.4 billion. GSK says the investment strengthens the strategic role of the Godollo plant and will allow the production of diphtheria and tetanus vaccines to be centered in one place.

The aim is to increase the efficiency and simplification of the manufacturing process and triple production.

In Hungary, tens of thousands of people suffer preventable deaths each year. According to reports, this is largely due to a lack of investment in the national health care system.

Last year, 541 people died from hospital infections in Hungary, compared with 567 killed in car accidents.

Hungary's health statistics perform poorly when compared with those from other Central European countries. The number of deaths that could have been prevented is the highest in the region, with 385 deaths per 100,000 people.