Richter surpasses strong figures of 2023

Richter Gedeon Nyrt. announced on the stock exchange that it had recorded a 42% increase in profit after tax to 175.9 billion forints by the end of September. At the same time, exchange rate gains totalled 1.8 billion forints, a significant improvement on the high losses of the previous year.

Sales in the Pharmaceuticals division rose by 15% to 214 billion forints in the third quarter, bringing total sales since the beginning of the year to 627 billion forints (+14.5%). Currency-adjusted sales growth totalled 12%. Operating costs climbed by 13% due to acquisitions.

Earlier forecasts confirmed

Based on the figures for the first nine months, the growth of Richter Gedeon Nyrt. is stable and steady and confirms the previous forecast for this year’s turnover, said CEO Gábor Orbán at a press conference in Budapest on Tuesday.

After last year’s outstanding performance, double-digit growth in the pharmaceutical business is likely to be achieved again this year, if the effects of currency fluctuations are factored out. The company’s expected total turnover for 2024 is estimated at around 2.15-2.25 billion euros.

Biotechnology in the north of Germany

When assessing the figures for the first three quarters, Orbán said that acquisitions had had an impact on revenue and costs. Among the results, he emphasised the completion of an investment worth 100 million euros to inaugurate a state-of-the-art biotechnology facility in Bovenau (northern Germany). In addition, AbbVie and Richter have signed a new R&D and licence agreement to develop new targets for the potential treatment of neuropsychiatric disorders. Under the terms of this agreement, Richter has received an upfront payment of USD 25 million and is entitled to distributions and royalties based on sales.