30m-euro sales for Gedeon Richter

Hungarian pharmaceutical group Gedeon Richter last year posted sales worth 37.3 million dollars (30 million euros) in Romania, over 19% higher than results seen in the previous year, according to information provided by the Hungarian group. The Richter Group is present on the Romanian market through its subsidiary, Gedeon Richter Romania, based in Targu-Mures, and through its own representative office on the Romanian market, Richter Gedeon. Gedeon Richter Romania, the former Armedica factory, acquired in 1998, posted a 20.5 million-dollar (16.5 million-euro) turnover in 2006, a 19.2% increase, while the Richter Gedeon representative office last year reported sales up by 19.5%, to 16.8 million dollars (13.5 million euros), driven by the increase in the sales of its oral contraceptives range. Last year, the Hungarian group was extremely aggressive in the sector of pharmaceutical retail, buying several drugstore networks through its local division Gedeon Richter Farmacia. Currently, the company holds operating rights for over 60 drugstores on the Romanian market.