Gedeon Richter Reports Strong Financial Performance for 2015
Gedeon Richter Plc. announced robust financial results for 2015, with total revenues increasing by 3.3% and significant improvements in profitability. The company also highlighted key advancements in its drug development pipeline, particularly for treating schizophrenia and bipolar mania.
Gedeon Richter Plc., a pharmaceutical company based in Budapest, reported strong financial results for the fiscal year 2015. The company's total revenues grew by 3.3% to HUF 365.2 billion (approximately EUR 1.18 billion). Operating profit saw a substantial increase of 78.9%, and the profit for the year more than doubled, rising by 117.9%.
A significant milestone for the company was the U.S. Food and Drug Administration's (FDA) approval of Cariprazine in September 2015 for the treatment of schizophrenia and bipolar mania. Cariprazine, an original compound discovered by Richter's scientists, was launched in the USA on March 16, 2016. A submission for marketing authorization in the European Union is anticipated in the first half of 2016.
The company's core specialty, Women's Healthcare, also showed encouraging results in 2015. Richter continues to focus on original research, with a particular emphasis on treatments for Central Nervous System (CNS) disorders, alongside the development of biosimilars.
Richter's strategy involves concentrating on high-added-value specialty pharmaceuticals within a challenging industrial environment. The Group's primary activities encompass the research, development, manufacturing, and marketing of pharmaceutical products, supplemented by wholesale and retail operations.