Richter Gedeon buys Dita group for 14.5M euros

Hungarian drugmaker Richter Gedeon says that Armedica Trading SLR, in which it holds a 98.11% stake, has completed the acquisition of Romanian drug wholesaler, the Dita Group for a consideration of 14.5 million euros ($19.1 million). The firm explained that the Dita group comprises three companies with bases in Bucharest and Craiova in Romania, as well as Kolozsvar in Hungary.

Richter said that the purchase, which is still subject to authorization from the country's competition authorities, will increase its share of the Romanian wholesale drug market by 3% to 4.5%, which includes the contribution made by the previously-acquired Sibofarm SA.

Richter also announced that it has completed the purchase of the rights of operation for about 60 pharmacies in the region, via retail companies and pharmacy licenses acquired previously. The company explained that the deal, which was carried out via a second subsidiary, Richter Gedeon Farmacia SA, was designed to develop its position in Romania. Financial terms of the acquisition were not disclosed.