US success offsets coronavirus impact for Gedeon Richter

Hungary's largest drugmaker Gedeon Richter (RICHT: HB) has reported sales of 279 billion forint ($947 million) for the first half of 2020, up 15.4% from the same period of 2019.

The firm reported a gross profit margin for the period of 58.3%, up from 56.9%, and an operating margin of 18.8%, up from 14.2%.

While revenues held steady at 41 billion forint in Russia, formerly the firm’s largest market, USA sales grew a striking 64% to 53 billion forint, reflecting the success of Vraylar (cariprazine), an atypical antipsychotic approved in 2015.