The Hungarian pharmaceutical firm Gedeon Richter Plc. announced this Monday that it signed a multi-party agreement to divest its wholesale operation to Grin-Farm S.R.L. and its retail operations to BIRIVOFARM S.R.L., both in the Republic of Moldova.
Richter as a majority owner of both the wholesale and the retail operations is entitled to approximately 62% of the purchase price, which is receivable upon the closure of the deal.
“This agreement complements the strategic shift Richter has been executing over the past decade and it protects high margins achieved by its core, highly specialised pharmaceutical business segment,” Gábor Orbán, the CEO of Richter said in a statement published on the website of the Budapest Stock Exchange.
About Richter
Gedeon Richter Plc. (www.richter.hu), headquartered in Budapest/Hungary, is a major pharmaceutical company in Central Eastern Europe, with an expanding direct presence in Western Europe, in China and in Latin America. Having reached a market capitalization of EUR 3.8 billion (USD 4.7 billion) by the end of 2020, Richter's consolidated sales were approximately EUR 1.6 billion (USD 1.8 billion) during the same year. The product portfolio of Richter covers many important therapeutic areas, including Women's Healthcare, Central Nervous System and Cardiovascular areas. Having the largest R&D unit in Central Eastern Europe, Richter's original research activity focuses on CNS disorders. With its widely acknowledged steroid chemistry expertise, Richter is a significant player in the Women's Healthcare field worldwide. Richter is also active in biosimilar product development.
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