Hungary’s largest pharmaceutical manufacturer Gedeon Richter (RICHT: HB) has announced its financial results for the first half of 2024.
Revenues from the pharmaceutical sector rose 16% to 213 billion forints ($554.7 million) in the second quarter, bringing revenues to 413 billion forints in the first half of the year, up 14% year-on-year. Excluding currency fluctuations (ex FX), sales growth in the first half of the year was 12.5%, within the forecast range for the full year 2024.
The impact of the weakness of the Russian ruble is slowly fading, while the weaker forint provided some tailwind to reported second-quarter revenues across all segments, the company noted.
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