Russia boosts Richter Gedeon 2005 sales

For Hungarian drugmaker Richter Gedeon, "performance during 2005 represented a milestone in the history of our business in Russia," commented the company's chairman, William de Gelsey. "Our successful participation in the Russian government's subsidized drugs program resulted in a major step-change in our sales, which well surpassed the increases of previous years. Russia, together with other Commonwealth of Independent States republics, became our best-performing business region in 2005, exceeding our sales in Hungary," Mr de Gelsey added.

Richter's turnover for the year leapt 17.8% to $705.7 million, with operating profit up 8.5% to $187.1 million and net profits jumped 18.3% to $218.4 million, the firm said. Earnings per share were up 18.3% at $11.72.