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Richter signs €150m credit agreement

Hungarian drug maker Gedeon Richter on Monday said it signed an agreement for a €150 million club credit facility with the Hungarian affiliate of ING Bank, K&H Bank and Raiffeisen Bank. The credit will assist the company meet its general operational objectives, Richter said.

Richter announced earlier that it made two acquisitions in the autumn, agreeing to pay CHF 445 million for PregLem, including CHF 150 million in cash and CHF 295 million based on performance, and paying €236.5 million for the oral contraceptive portfolio of German peer Grunenthal. Richter borrowed to pay part of the Grunenthal purchase price to avoid depleting its stock of cash, the company said at the time. (MTI-ECONEWS)