Gedeon Richter posts 2015 sales up 3.3%

Hungary’s largest drugmaker Gedeon Richter (RICHT: HB) reports that sales in 2015 were 365.22 billion forints ($1.32 billion), increasing by 3.3% in forints and 2.9% in euro terms when compared to 2014. The euro/forint average weakened marginally, by 0.3% during 2015 compared with the previous year.

Profit from operations increased significantly by 78.5% in forint terms (77.9% in euro terms) to 67, 37 billion forints, this considerable increase resulting from a substantial one-off milestone payment received during the third quarter 2015, higher Group turnover together with lower S&M and R&D expenditures during the reported period.

Total sales in Hungary were 34.98 billion forints, a 6.6% increase (6.2% in euro terms) compared to the levels reported in 2014. There were no material changes to the regulatory system in Hungary.