Research at Gedeon Richter |

Hungarian company buys out Chinese partner

January 23, 2016

Hungary’s largest drugs producer, Gedeon Richter Plc., has announced that it bought out its Chinese partner, obtaining its outstanding 50% stake, further strengthening its presence in China, the Hungarian financial website reports.

According to Richter's announcement, it acquired from its partner, Rxmidas Pharmaceuticals Holdings Ltd. its outstanding 50% stake in Gedeon Richter Rxmidas Joint Venture Co. Ltd. following the setting up of a joint venture with an initial 50% share of equity announced in December 2010. 

Subsequent to the present acquisition, Richter now holds 100% of Gedeon Richter Rxmidas Joint Venture Co. Ltd., consequently will be in full charge of its contraceptive and OTC business in China, reports.

The financial terms of the agreement are undisclosed.


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