Optimistic Outlook for Richter Gedeon
The price-to-earnings ratio of Richter Gedeon of Hungary is higher thanthat of any central European competitor and is only slightly lower than that of the world's leading drug producers. The firm's share price on the Budapest Stock Exchange has increased sixfold in the past 18 months, reports MTI Econews, and Hungarian business analysts have produced optimistic forecasts for RG over the past few weeks.
RG has increased its sales 25% over the past two years, and figures for the first quarter of the year project even stronger growth, partly attributable to the strength of the dollar.
The company is looking to make investments in a number of projects, which include a production facility in Kobanya in Hungary, and the development of its Russian subsidiary, estimated to cost $30-$50 million by the end of 1998. RG is also investing $10-$20 million in the construction of a small drugs packaging unit in the Ukraine.
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