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Richter, Egis unaffected by Russian strategic drug list

Hungarian drug makers Richter Gedeon and Egis make none of the products on a list of 57 “strategic” drugs the Russian state wants to be manufactured in the country, the companies said when asked by MTI on Tuesday.

The list of drugs to treat ailments such as cancer, heart disease and hepatitis, are currently imported. The Russian government, which approved the list on July 6, aims to raise the market share of drugs made in the country from 20% to 50% by 2020.

Although details of the 57 strategic drugs have not yet been published, the list does not affect products in Egis's portfolio to the company's knowledge, Egis communications director Mariann Menthy told MTI.

The list has no effect on the operations of Richter, said company spokeswoman Zsuzsa Beke.

Egis had revenue of HUF 106.3 billion in its business year ended September 30, or about $510 million. Its exports to Russian generated about $115 million.

Richter's exports to Russian and the CIS accounted for about €302 million of the company's €952 million in revenue in 2009. (MTI-Econews)