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Richter invests in biotech

Recycling

The listed pharmaceutical company Richter Gedeon Nyrt and the Hamburg-based Helm AG have jointly bought the Strathmann Biotec GmbH for €22.9 million ($31.6 million), Richter announced on the Budapest Stock Exchange (BÉT) website on Monday.

Richter has 70%, while Helm 30% stake in the new joint venture company. Strathmann Biotec GmbH, a subsidiary of the German Strathmann Dr. Detlef Strathmann Verwaltungs GmbH, includes a state-of-the-art biotechnological plant specialized in the bacteriological branch of biotechnology as well as capacities for R&D and laboratories. The company employs 81 workers. The contract will be effective as soon as the German competition office approves of it. (Gazdasági Rádió, Magyar Hirlap)

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