Hungary’s Richter Gedeon Nyrt, Eastern Europe’s biggest drugmaker, is strengthening its market share through the acquisition of Poland’s Polpharma and Russia’s Akrikhin, UBS said. Richter’s shares gained more than 30% compared to previous months’ results.
Erste and UBS increased their recommendations of shares, from sell to hold. Richter shares rose 1.6%, to Ft 39,800 in Budapest. Richter expects further 18.2% increase on its eastern markets of the former soviet states, while expects only some 3% decrease in local income and a slight start in increasing volume. Recommendations to Richter: Erste-buy-47,600; UBS-hold-42,400; Deutsche Bank-sell-35,000; KBC-buy-44,459; ING-hold-42,500; Credit Suisse-44,000. (NG 13)
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