Gedeon Richter 1st-qtr sees sales and profits rising

Hungary’s largest drugmaker Gedeon Richter (RICHT: HB) today reported first-quarter 2018 financials, showing that consolidated sales at 113,945 million forint ($433.3 million) increased 1.1% when compared with the same period 2017.

Sales growth in certain products and markets was offset by weakening exchange rates of the most important invoicing currencies against the euro. The US dollar weakened on an average 15.4%, and the rouble lost 11.7% to the euro when compared with the first three months to March 2017.

EU12 added 10.3 million euros ($12.3 million) to sales revenues, which includes turnover in the Romanian wholesale and retail segment up by 6.4 million year-on-year. Chinese sales grew by 4.8 million euros, while higher royalty proceeds from Vraylar (cariprazine) by $5.1 million) and growth recorded by Bemfola, s a recombinant-human follicle stimulating hormone (r-hFSH), developed as a biosimilar to Gonal-f, an established reference product from Germany’s Merck KGaA, (3.0 million euros), also added to consolidated top line.