Currency movements benefit Gedeon Richter in third quarter
Gedeon Richter (RICHT: HB) has posted an upbeat third quarter results statement, showing a 28% increase in revenues to 127.5 billion Hungarian forint (HUF) ($419 million), beating analysts’ expectations of 122 billion HUF.
Net income for Hungary's largest drugmaker was just over the forecasted 20.9 billion HUF, with earnings per share coming in at 119 HUF for the quarter.
The firm’s strong performance was boosted by proceeds from the atypical antipsychotic Vraylar (cariprazine), including a one-off sales related milestone of $24.6 million.
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