Sales Related Milestone at Gedeon Richter

For the first time in history, an original molecule invented by a CEE headquartered pharmaceutical company (Gedeon Richter's Vraylar), reached blockbuster status in the USA in the first half of 2020.

"Thanks to the outstanding performance of our trusted partner Abbvie, Vraylar’s turnover exceeded USD 1 billion in Q2, which triggered the receipt of a sales related milestone. Royalty revenues also grew on the back of robust sales dynamics in this period, putting the US at the top of our list of most important markets," Gábor Orbán, the CEO of the Hungarian pharmaceutical company Gedeon Richter Plc. says on the website of the Budapest Stock Exchange.

He adds that their specialty business is well on the track with increasing sales of their core Women’s Health franchise and promising performance of their first biosimilar, teriparatide.

Gedeon Richter Plc. posted strong results so far in 2020 despite weaker demand for drugs due to less frequent patient-doctor in-person encounters in the context of the pandemic. Limitations on visits by sales staff and on direct promotional activities pose further challenges.

"Richter’s goal remains to ensure a sustainable supply of high quality and affordable medication worldwide, so we redouble our efforts to keep our team safe while striving for operational excellence. Our corporate culture of trust and our vertically integrated business model remain key to successfully navigating through these challenging times,” the CEO adds.