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Gedeon Richter’s Q1 Hit By Weak Ruble But Expects More M&A In Q2

Further Biotechnology And Women’s Health Expansion Expected In 2024

 
• By Urtė Fultinavičiūtė

With two M&A deals expected to close in the second quarter, Gedeon Richter counts its wins and losses from a “solid” start to the year.

Q1 And Q2 written on a dice
• Source: Shutterstock

“A solid start of the year” is how Gedeon Richter described its performance during the first quarter of 2024. The Hungarian firm reported HUF200bn ($564m) in pharma revenues, which was a 12.6% year-on-year increase, with the CEO Gábor Orbán calling it a “milestone for one-quarter revenues.”

However, if it wasn’t for the ruble depreciation, the revenue growth could have been as high as 15.5%, Orbán explained

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