Gedeon Richter up 32.6%

The leading Hungarian drugmaker Gedeon Richter, which holds Armedica Targu Mures factory in Romania, logged 32.6% higher sales on the Romanian market in H1. According to company officials, the surge in sales occurred despite the relatively unfavourable conditions on the market and the serious payment issues; the performance is mainly due to high demand for oral contraceptives. The group did not disclose the exact value of the sales made in Romania through its Gedeon Richter Romania SRL representative office and Armedica, but the two entities posted joint sales worth 3.2 million euros in Q1, according to data provided by research company Cegedim. Its 13-14 million-euro annual sales rank the Hungarian group among the medium-sized players on the Romanian market, with a 2.2% share. The Romanian drug market is estimated to be worth some 600 million euros and has been plagued by the money troubles of the healthcare system. The Romanian State currently owes more than 250 million euros to importers and producers, with some of the debts as old as two years. ZF