Revenue rose 6% to HUF 636.4 bln, while the cost of sales dropped 7% to HUF 196.8 bln, boosting gross profit by 12% to HUF 439.6 bln.
Research and development expenses climbed 18% to HUF 70.2 bln, with milestone income reaching HUF 6.6 bln. Operating profit grew 32% to HUF 190.2 bln.
Richter reported a net financial gain of HUF 5.8 bln, a significant turnaround from a net financial loss of HUF 18.4 bln in the same period last year. Earnings per share reached HUF 959.
The company affirmed its full-year guidance for pharmaceutical revenue of EUR 2.15 bln-2.25 bln and operating profit of EUR 725 mln-750 mln, at a constant exchange rate. Pharmaceutical revenue reached EUR 1.6 bln in Q1-Q3.
Following the report, CEO Gábor Orbán told journalists that the company’s growth had been “stable and consistent” in Q1-Q3. He added that Richter completed a EUR 100 mln investment, inaugurating a biotechnology plant in Bovenau, Germany, and signed a joint development and licensing agreement with U.S. peer AbbVie on novel neuropsychiatric targets, receiving an upfront payment of USD 25 mln.
Orbán noted that pharmaceutical revenue increased across all regions where the company operates. Responding to questions, he welcomed the planned phase-out of sectoral taxes from 2025.
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
