Richter’s growth will be ensured by the stability of Russia’s economy and politics, Bogsch said. Richter has started production at a local unit of a wide range of products at the right time, as many of Richter’s drugs have been included on a special list of state-subsidized medicines, and Russians are now able to afford pricier drugs. Bogsch noted that local production was a condition for inclusion of Richter’s drugs on the state-subsidized medicines list.
Richter’s unconsolidated revenue from exports to CIS countries rose 40.1% to $215.9 million in 2005 and accounted for nearly half of total export revenue. Revenue from sales of drugs on Russia’s state-subsidized medicines list came to $30 million.
