Richter may get $5 mln boost from US

Pharma

Richter Gedeon Nyrt, eastern Europe's biggest maker of gynecological drugs, may get up to $5 million in added revenue this year if U.S. regulators approve over-the-counter sales of an emergency contraceptive it makes. Barr Pharmaceuticals Inc.’s CEO Bruce Downey said sales of Plan B could double if the drug was available without a prescription. Richter, based in Budapest, makes Plan B for Barr. The U.S. Food and Drug Administration (FDA) said yesterday it wants to meet with Barr within the next week to discuss the possibility of allowing over-the-counter sales of its Plan B „morning after” pill. The drug had been expected to contribute $4 million to $5 million to Richter's revenue this year, according to Péter Tordai, an analyst at the Budapest branch of KBC Groep NV. Richter's sales would double along with Barr's, meaning Plan B could contribute as much as $10 million, he said. "We are happy to see that there are some positive steps in the approval process,” Richter spokeswoman Zsuzsa Beke said, adding that the debate surrounding over-the-counter sales of Plan B has been going on for three years. Beke declined to confirm KBC's numbers, though she said Plan B sales in the U.S. were expected to amount to "a few million dollars” this year. She also said it was "dangerous" to base a sales forecast on the possibility that the FDA might allow Plan B to be sold over the counter. "This is a kind of political fight before the November elections," she said. "The U.S. is such a radically conservative society that it's difficult to assess" how well Plan B would sell over the counter, she added. Many US politicians oppose sales of Plan B on moral and religious grounds. The FDA would limit over-the-counter sales to women 18 and older. Richter markets Plan B as Levonelle-2 in the European Union and as Rigesoft in Hungary. The company had sales of Ft 140.9 billion ($705.5 million) last year, with just under 10% of revenue coming from U.S. exports. Sales of gynecological drugs made up about 28% of Richter's sales in H1. (Bloomberg)

ADVERTISEMENT

Job ads in hospitality, tourism sector grow drastically  Analysis

Job ads in hospitality, tourism sector grow drastically 

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Budapest launches revamped coupon card for visitors City

Budapest launches revamped coupon card for visitors

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.