Richter and Egis sell stakes in Medimpex

Hungary's two leading Hungarian pharmaceutical manufacturers, Richter Gedeon and Egis, have sold their shares in wholesaler Medimpex. The companies each owned a 50% stake, and these are now to be taken over by the leading wholesaler Hungaropharma. Besides pharmacists and another manufacturer, Richter and Egis also own shares in Hungaropharma, reports Patrick Hollstein for ExpoPharm.

With a market share of 7%, Medimpex is the fourth largest wholesaler in Hungary behind Hungaropharma, Phoenix and Humantrade, which belongs to Israeli generics giant Teva. Medimpex owns Pannonmedicina, another wholesaler. According to a representative, the takeover of Medimpex by Hungaropharma has to be seen as an answer to the decreasing sales in the Hungarian pharmaceutical market.

It is not yet known if the merger also will result in a closure of warehouses and jobs cuts. The Hungarian pharmaceutical market declined by 9% as a result of various measures the government introduced to save money in the health care system (Marketletters passim).