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Analyst trust grows for Richter

Hungarian pharma major Richter is strengthening its market positions thorough regional acquisitions.

Hungary’s Richter Gedeon Nyrt, Eastern Europe’s biggest drugmaker, is strengthening its market share through the acquisition of Poland’s Polpharma and Russia’s Akrikhin, UBS said. Richter’s shares gained more than 30% compared to previous months’ results.

Erste and UBS increased their recommendations of shares, from sell to hold. Richter shares rose 1.6%, to Ft 39,800 in Budapest. Richter expects further 18.2% increase on its eastern markets of the former soviet states, while expects only some 3% decrease in local income and a slight start in increasing volume. Recommendations to Richter: Erste-buy-47,600; UBS-hold-42,400; Deutsche Bank-sell-35,000; KBC-buy-44,459; ING-hold-42,500; Credit Suisse-44,000. (NG 13)