Revenue slipped 0.4% to HUF 140.9 billion. The decline followed a double-digit increase in sales in the base period, when demand surged for generic drugs for chronic conditions as well as oral contraceptives ahead of lockdowns to contain the first wave of the coronavirus pandemic.
The direct cost of sales rose 2.5% to HUF 62.7 bln, causing a 2.5% decline in gross profit to HUF 78.2 bln.
Operating profit dropped 3.2% to HUF 24.4 bln.
Richter booked a HUF 1.4 bln financial gain during the period, well under the HUF 5.7 bln gain in the base period.
Sales of oral contraceptives, Richter's biggest-selling products, fell 13.5% to HUF 24.7 bln. But turnover from its second-biggest seller, the antipsychotic cariprazine, jumped 37.1% to HUF 21.6 bln.
Cariprazine's success in the United States, where it is marketed under the brand Vraylar, made the country Richter's biggest market during the period, with sales of HUF 24.5 bln, up 26.5%.
Pharmaceutical sales in Russia dropped 18% to HUF 18.2 bln.
Domestic sales increased 2.2% to HUF 11 bln. Richter noted that it had 4.6% market share in Hungary, making it the fifth-biggest player. However, it was runner-up on the prescription drug market with 7.3% market share.
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.
