Gedeon Richter exceeds PLN 250m sales in Poland in 2006

Grodziskie Zaklady Farmaceutyczne Polfa (Polfa Grodzisk), a Polish pharma manufacturer in which the Hungarian Gedeon Richter holds a majority 70% stake, generated PLN 127m (€32.6m) sales revenue in 2006, down 3% year on year. Gedeon Richter’s representative office in Poland closed last year with PLN 125m (€32.1m) in sales, which was 18% higher than in the previous year. Thus, the consolidated sales of Gedeon Richter in Poland amounted to PLN 252m (€64.8m) in 2006, which ranked the firm 16^th among pharmaceutical manufacturers operating in Poland. The company expects its sales to expand 15-20% in the country in 2007.

The sales growth in 2006 was chiefly generated by products which have been in the company’s portfolio for many years and by gynaecology preparations, as Laszlo Nemes, the director of Gedeon Richter representative office in Poland, explained to Pharma Poland News.

Depending on the course of the registration process, the company plans to launch subsequent products on the Polish market of gynaecology and urology lines this year.

In Mr Nemes’ opinion, the fact that the Polish reimbursement system is not regulated properly is detrimental to sales, chiefly because the lists of reimbursed drugs are not published systematically and their publication is often postponed many times.

Consolidated sales achieved by Gedeon Richter worldwide in 2006 amounted to HUF 209.419bn (€833m), 21.3% more than the previous year, while net profit for the reported period was HUF 52.1bn (€207m), an increase of 15.0% over 2005.
Source:polishmarket.com