Richter Gedeon Buys Romanian Business
Hungary's Richter Gedeon has purchased the Relad Manufacturing companyin Romania for an undisclosed sum, according to MTI Econews. Relad owns 51% of Romanian drugmaker Armedica SA.
Richter Gedeon's management believes that it will cost around $21-$24 million to acquire additional Armedica shares and modernize and expand the company's production over the next four years. Armedica holds 2.3% of the Romanian pharmaceutical market, with gross profits last year of $400,000 on sales of $4.6 million. The company has 360 employees and produces 40 different products.
...Acquisitions In The Ukraine Meantime, Richter Gedeon has signed a contract with two unidentified Ukrainian companies for the purchase of a further 16.5% stake in the Ukraine's Kiyevobifarmaciya pharmaceuticals trading company, according to MTI Econews.
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