Hungarian Richter has a bold strategy to remain world leader in pharmaceutical and biotechnology sectors

Richter’s new long-term strategy aims to double revenue by 2035, CEO Gábor Orbán said on Wednesday.

The new long-term strategy, Richter 2035, approved by the board of directors, envisages that the company’s non-CNS revenues will rise by 7-8pc a year on average to EUR 3.2-3.5bn by 2035.

Péter Turek, head of the women’s healthcare division, said the aim is to double revenue and R+D investments and significantly boost profitability by 2035 by maximising potential in Richter’s current portfolio and introducing innovative products. In the next decade, women’s healthcare will be the biggest revenue- and profit-generating division, he said.

Kristóf Kóczián, head of the neuropsychiatry division said Richter will strive to maximise the value of its key product cariprazine until its patent expires in 2029, while also ensuring that the division will remain a value-adding business in the 2030s and 2040s. The existing unmet needs, the enormous social cost of mental disorders, the ever-increasing demand for treatments and promising innovations continue to make original research in neuropsychiatry an attractive proposition, he said. He identified the US as the most important market, where Richter is developing and selling products with partners.

Richter also expects to double revenue from generic medicines by 2035, achieve over 20pc clean EBIT margin much earlier while increasing the freshness index of its portfolio (the ratio of products introduced in the past five years) to over 15pc and raise R+D spending to 7pc of revenue, Bence Kovacs, head of the General Medicines division said. The division had annual growth of 6pc in the region in recent years.