ADVERTISEMENT

Richter to spend $5 mln-$10 mln on Russian unit

Pharma

Richter Gedeon Nyrt, Hungary's biggest drugmaker, plans to invest between $5 million and $10 million in its Russian unit to meet growing demand, news agency Interfax reported, citing Richter CEO Erik Bogsch.

Russia is Richter's biggest and fastest growing market, with sales totaling $157 million last year and $110 million in the first half of 2006, Interfax cited Bogsch as saying at a press conference in Moscow. The drugmaker expects to boost revenue from Russia by at least 15%-20% next year, while sales increases in other markets won't exceed 10%, Bogsch said.
Richter has invested a total $40 million in its Russian plant.

ADVERTISEMENT

IMF raises Hungary 2021 GDP growth forecast to 7.6% Analysis

IMF raises Hungary 2021 GDP growth forecast to 7.6%

Parliament approves amendment to Competition Act Parliament

Parliament approves amendment to Competition Act

New CEO announced at Codic Hungary Appointments

New CEO announced at Codic Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 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.