$15.8 million sales for Gedeon Richter

Sales of the biggest Hungarian pharmaceutical producer, Gedeon Richter, on the Romanian market reached 15.8 million dollars in the first six months of the year, with drugs manufactured in the Targu-Mures plant having the biggest contribution, according to a report of the Hungarian company. Gedeon Richter started its production operations in Romania in 1998, with the acquisition of the Armedica plant in Targu-Mures. In September 2003, the Hungarian group merged with its subsidiary, forming Gedeon Richter Romania SA. The company also has its own representative office on the Romanian market, Richter Gideon, which manages the portfolio of drugs imported from Hungary, especially the oral contraceptives. As a separate entity, Gedeon Richter Romania (former Armedica) posted revenues worth 9.7 million dollars in the first six months of the year, a 14.1% increase against the similar interval of 2005. However, Richter Gedeon sales saw a slight drop, totalling 6.1 million dollars. Nonetheless, sales of oral contraceptives stayed on the same upward trend. Gedeon Richter Romania, 99.1% owned by the Hungarian group, has a registered capital of 11,039 million forints and 427 employees.