Richter profit climbs 14% in Q3

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Hungarian drugmaker Gedeon Richterʼs third-quarter net income rose 14% to HUF 16.4 billion as revenues climbed, an earnings report released early today shows, cited by state news wire MTI.

Richterʼs revenues increased 11% to HUF 107.4 bln. Direct costs of sales rose at a faster rate, climbing 13% to HUF 44.6 bln.

Gross profit was up 10% at HUF 62.8 bln. Operating profit increased 17% to HUF 21.4 bln. Earnings per share came to HUF 88 for the period, MTI reported.

Richterʼs net income for Q1-Q3 rose 5% to HUF 44.6 bln. Revenues increased 18% to HUF 334.2 bln. Direct costs of sales were up 15% at HUF 191.6 bln, but other costs rose at a more moderate rate, lifting operating profit by 23% to HUF 53.7 bln.

In a breakdown of sales by region, Richter said turnover in Hungary edged up 1% to HUF 27.6 bln, while turnover in other European Union member states rose 19% to HUF 142.3 bln. Russian sales were up 24% at HUF 73.3 bln, and U.S. sales jumped 82% to HUF 20.5 bln.

In a breakdown by product, calculated in euros, Richter said sales of Esmya, used to treat uterine cysts, contributed EUR 67.5 million to its EUR 1.083 billion revenue total. Royalties on sales of Vraylar, the U.S. trademark of Richterʼs antipsychotic cariprazine, came to EUR 35.9 mln, while sales of Bemfola, used in fertility treatments, reached EUR 25 mln. Oral contraceptive sales totaled EUR 220.6 mln.

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