Pharmaceutical company Gedeon Richter intends to maintain a pace of 5 new drugs introduced on the Romanian market every year, stated Erik Bogsch, the general manager of the Hungarian company. Gedeon Richter Romania merged with its Armedica SA subsidiary at the end of 2003, forming Gedeon Richter Romania SA. The Hungarian company took over the controlling interests in the Targu Mures-based drug maker indirectly in 1998. The company concluded the second quarter of this year with total sales of 6.7 million euros, and a 2.1% market share, according to Cegedim data. "Gedeon Richter''s strategic goal is to modernise and improve the portfolio of drugs produced and sold in Romania. Our portfolio currently comprises 52 products," Bogsch added. The products developed by Gedeon Richter Romania over the last few years have entered the portfolio of the companies of the group, allowing it to begin exports to Hungary, Russia and Poland. "Health care system spending is higher in Hungary than in Romania, though this gap will be closed in the near future, following the development of the economy and the integration into the European Union," Gedeon Richter''s top man said. Pharmaceuticals consumption in Romania amounted to approximately 40 euros per capita last year, while this indicator in Hungary exceeds 100 euros. Gedeon Richter increased the share capital of its Romanian subsidiary twice over two months last year by some 7.3 million euros. ZF
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