Gedeon Richter (company)

Last updated
Gedeon Richter Plc.
Company type Public
BPSE:  RICHTER
BUX Component
Industry Biotechnology
Pharmaceuticals
Founded1901
Founder Gedeon Richter
Headquarters
Budapest
Area served
Worldwide
Key people
 Erik Bogsch (Chairman)
Gábor Orbán (CEO)
Products Medicines
Pharmaceuticals
RevenueIncrease2.svg US$ 2.31 billion (2022)
Increase2.svg US$ 276 million (2018)
Increase2.svg US$ 121.8 million (2018)
Total assets Increase2.svg US$ 2.7 billion (2018)
Total equity Increase2.svg US$ 2.3 billion (2018)
(on 288.9 USD/HUF)
Number of employees
12,696 (2018)
Subsidiaries Helm BioTec
Medimpex
Preglem
Website www.gedeonrichter.com
Footnotes /references
[1] [2]

Gedeon Richter Plc. is a European multinational pharmaceutical and biotechnology company headquartered in Budapest. It is the largest pharmaceutical company in Central and Eastern Europe, with an expanding direct presence in Western Europe, China, Northern America and Latin America. Richter has the largest R&D unit in Central and Eastern Europe and operations in over 100 countries. [3] [4] [5] [6] [7] [8]

Contents

Gedeon Richter Plc. has a primary listing on the Budapest Stock Exchange and is a constituent of the BUX Index. It had a market capitalisation of approximately $6.6 billion as of 2018, the third largest of companies with a primary listing on the Budapest Stock Exchange. It has secondary listings on the Luxembourg Stock Exchange. [9]

Richter sells products for the central nervous system, women's health and cardiovascular therapeutic areas among others. The company is also active in biosimilar product development. [10] The company was established in Budapest by Gedeon Richter (1872–1944), a pharmacist, in 1901.

History

In 1901, pharmacist Gedeon Richter founded the company in Budapest. Richter Gedeon croped.jpg
In 1901, pharmacist Gedeon Richter founded the company in Budapest.

Early history

In 1901, the pharmacist Gedeon Richter founded the company, when he first received a license to industrially produce medicines. [11]

Initially, small-scale pharmaceutical production took place in the Arany Sas (Golden Eagle) Pharmacy, which still operates today. At the time pharmaceutical production on an industrial scale required heavy investments, and large-scale pharmaceutical manufacturing activities were considered to be extremely capital-intensive operations. Initially, the laboratory processed extracts from organs of animals and produced organotherapeutic drugs.

The plant was built in 1907 in the Kőbánya suburb of Budapest and was Hungary's first pharmaceutical manufacturing plant and regarded as an outstanding technological achievement in its day. In compliance with the established international trends of the pharmaceutical industry in those days, the company produced herbal drugs, processed extracts from plants and manufactured synthetic products at a later date. The company became a highly recognized manufacturer of lecithin products, antiseptic and febrifuge products, as well as painkillers (Hyperol, Kalmopyrin, and Tonogen, which continue to be in use). In 1934, Constant Janssen, of the future Janssen Pharmaceuticals, acquired the distribution rights for Gedeon Richter's products. [12]

The company was nationalized in 1948 and remained fully state-owned until 1994. [13]

In the 1970s, chemists at the Gedeon Richter Chemical Works in Budapest discovered the brain enhancing drug vinpocetine, [14] which continues to be used in treatment of cerebrovascular disorders. [15]

In 1995 Gedeon Richter signed a contract with Danco Laboratories to market an abortion pill mifepristone in the USA. Danco resolved to contracting Gedeon, because its prior attempts to find a US distributor failed due to "the politically volatile climate surrounding abortion in this country [the USA]." [16] Facing a strong opposition from the US pro-life groups, Gedeon decided in 1997 to end its efforts to place mifepristone on the U.S. market. On May 9, 1997 Danco filed a lawsuit against Gedeon, because they lost over $200 million due to the Gedeon's breach of contract. [17]

Recent history

In May 2006 Gedeon Richter signed a development and supply agreement with the US-based company Repros Therapeutics to produce Proellex. [18] In July 2007 Gedeon Richter signed a contract with Barr Pharma for the production of Novartis Lamisil. Barr paid Gedeon Richter a royalty for distributing the product in the U.S. [19]

From July 2008 - April 2012, the company constructed a new manufacturing facility ($110 million) in Debrecen. [20]

In October 2010, Gedeon Richter acquired 100% of a private Swiss biopharmaceutical company, PregLem, for CHF 445 million (€337 million). [21] PregLem is focused on the treatment of gynecological conditions and infertility. [22]

In 2015, Stada Arzneimittel AG and Gedeon Richter signed a license and distribution agreement to commercialize Richter's biosimilar Pegfilgrastim in Europe. According to the agreement Stada receives non-exclusive distribution rights for the area of geographical Europe (excluding Russia), while Richter retains its rights to distribute and market biosimilar Pegfilgrastim worldwide. [23]

In January 2017, William de Gelsey resigned as chairman of the board of Gedeon Richter. He was replaced by former CEO Erik Bogsch, who served as a chief executive officer of Gedeon Richter from 1992 to November 2017. [24] As the new chief executive officer he appointed Gabor Orban, a former fund manager, government official and Bogsch's deputy since 2016. De Gelsey remains to be a member of the board. [25] [26]

In April 2017, Evestra signed a collaboration partnership agreement with Gedeon Richter. [27] In February 2019, Gedeon Richter and Pantarhei Bioscience signed a license and supply agreement for the commercialization of a novel combined oral contraceptive. [28]

In September 2018 the company started collaborating with the company Mithra Pharmaceuticals  [ fr ] to distribut its contraceptive, Estelle, in Europe and Russia. [29]

Richter's atypical antipsychotic, Reagila, containing the active ingredient cariprazine, was awarded the prize of Medicine of the Year 2019 by the Hungarian Society for Experimental and Clinical Pharmacology (MFT).

Corporate affairs

Organizational structure

Gedeon Richter has various subsidiaries in different countries: Gedeon Richter Polska, Gedeon Richter Romania and Gedeon Richter RUS are regional production subsidiaries. Richter-Themis Medicare (India) (51% Gedeon Richter, 49% Themis), Richter-Helm BioLogics and BioTec (Germany), Mediplus N.V. (Curaçao), Gedeon Richter Mexico, S.A.P.I. de C.V., Gedeon Richter Do Brasil Importadora, Exportadora E Distribuidora S.A. and Gedeon Richter Columbia S.A.S. are international subsidiaries in production and distribution. [30]

Leadership structure

The company's chief governing body is the board of directors. The board's chairman is Erik Bogsch, who had served as chief executive officer since 1992 and was succeeded by Gábor Orbán as CEO in November 2017. [25] [26] The board members are Gábor Gulácsi, János Csák, Dr. Ilona Hardy, Dr. György Bagdy, Csaba Lantos, Anett Pandurics, Bálint Szécsényi, Prof Dr Szilveszter E. Vizi, Dr.Kriszta Zolnay. [24]

The company's other governing bodies are the executive board and the supervisory board. The executive board is led by Erik Bogsch. Other members are Gábor Orbán, Gábor Gulácsi, István Greiner, Tibor Horváth, György Thaler. [31]

The supervisory board is led by Róbert Jonathán Bedros. Other members are Attila Chikán, Klára Csikós Kovácsné, Zsolt Harmath, and Éva Kozsda Kovácsné. [32]

Shareholder structure

As of December 31, 2018, Gedeon Richter's shareholder structure is: [9]

In 2018 the dividends approved by the shareholders of Gedeon Richter were EUR 41 million in total. [33]

Operations

The corporation has two plants today: the headquarters in Budapest, and a subsidiary in Dorog which has been operating since 1967.

The company has joint ventures in India with Themis Medicare, [34] and in Germany, with Helm AG. [34]

Production building of the company in Budapest Richter-Gedeon-Nyrt-P5010609.jpg
Production building of the company in Budapest

2012. Biotechnology plant in Debrecen.

Awards

In 2017, Gedeon Richter was recognized by the Hungarian Innovation Foundation with the Innovation Grand Prize for the development of Cariprazine, an antipsychotic drug which is used in the treatment of schizophrenia and bipolar disorders. [35]

IUPAC-Richter Prize

In 2006, Gedeon Richter gifted a large sum to the International Union of Pure and Applied Chemistry (IUPAC), thereby establishing the IUPAC–Richter Prize in Medicinal Chemistry. The $10,000 prize is awarded every second year to an internationally recognized scientist (normally a medicinal chemist), whose research or publications have made a significant contribution to the practice of medicinal chemistry. The prize was initiated to honor and highlight the central role of medicinal chemistry in improving human health. [36]

See also

Related Research Articles

<span class="mw-page-title-main">Corvinus University of Budapest</span> Research university in Budapest, Hungary

Corvinus University of Budapest is a private research university in Budapest, Hungary. The university currently has an enrolment of approximately 9,600 students, with a primary focus on business administration, economics, and social sciences, operating in Budapest and Székesfehérvár since 1948. Corvinus University accepts students at six faculties and offer courses leading to degrees at the bachelor, master and doctoral level in specialisations taught in Hungarian, English, French or German.

<span class="mw-page-title-main">Kőbánya</span> District of Budapest in Central Hungary, Hungary

Kőbánya is the 10th district of Budapest and one of the largest by territory. It is located in southeast Pest, easily accessible from the downtown by Metro 3, whose terminus is named Kőbánya-Kispest.

A biopharmaceutical, also known as a biological medical product, or biologic, is any pharmaceutical drug product manufactured in, extracted from, or semisynthesized from biological sources. Different from totally synthesized pharmaceuticals, they include vaccines, whole blood, blood components, allergenics, somatic cells, gene therapies, tissues, recombinant therapeutic protein, and living medicines used in cell therapy. Biologics can be composed of sugars, proteins, nucleic acids, or complex combinations of these substances, or may be living cells or tissues. They are isolated from living sources—human, animal, plant, fungal, or microbial. They can be used in both human and animal medicine.

<span class="mw-page-title-main">MOL (company)</span> Hungarian Oil and Gas Public Limited Company

MOL Plc., also known as MOL Group, is a Hungarian multinational oil and gas company headquartered in Budapest, Hungary. Members of MOL Group include among others the Croatian and Slovak formerly state-owned oil and gas companies, INA and Slovnaft. MOL is Hungary's most profitable enterprise, with net profits of $770 million in 2019. The company is also the third most valuable company in Central and Eastern Europe and placed 402 on the Fortune Global 500 list of the world's largest companies in 2013.

<span class="mw-page-title-main">Dorog</span> Town in Komárom-Esztergom, Hungary

Dorog is a small town in Komárom-Esztergom County, Hungary. It lies 38 km (24 mi) north-west from the center of Budapest.

Danco Laboratories is a pharmaceutical distributor located in midtown Manhattan which distributes the abortifacient drug mifepristone under the brand name Mifeprex. Mifeprex is the only drug distributed by Danco, although the company plans to expand to other drugs in the future.

<span class="mw-page-title-main">Aceclofenac</span> NSAID analgesic medication

Aceclofenac is a nonsteroidal anti-inflammatory drug (NSAID) analog of diclofenac. It is used for the relief of pain and inflammation in rheumatoid arthritis, osteoarthritis and ankylosing spondylitis.

Christopher William Long was a British diplomat. Following his retirement in 1998, Long served as director of the Oxford University Foreign Service Programme from 1999 to 2003.

<span class="mw-page-title-main">Cariprazine</span> Atypical antipsychotic medicine

Cariprazine, sold under the brand name Vraylar among others, is an atypical antipsychotic developed by Gedeon Richter, which is used in the treatment of schizophrenia, bipolar mania, bipolar depression, and major depressive disorder. It acts primarily as a D3 and D2 receptor partial agonist, with a preference for the D3 receptor. Cariprazine is also a partial agonist at the serotonin 5-HT1A receptor and acts as an antagonist at 5-HT2B and 5-HT2A receptors, with high selectivity for the D3 receptor. It is taken by mouth.

<span class="mw-page-title-main">AbbVie</span> American pharmaceutical company

AbbVie Inc. is an American pharmaceutical company headquartered in North Chicago, Illinois. It is ranked sixth on the list of largest biomedical companies by revenue. In 2023, the company's seat in Forbes Global 2000 was 74, and rank 89 on the 2024 list. The company's primary product is Humira (adalimumab), administered via injection. It is approved to treat autoimmune diseases including rheumatoid arthritis, Crohn's disease, plaque psoriasis, and ulcerative colitis.

<span class="mw-page-title-main">Amneal Pharmaceuticals</span> American publicly traded generics and specialty pharmaceutical company

Amneal Pharmaceuticals, Inc. is an American publicly traded generics and specialty pharmaceutical company. The company is headquartered in Bridgewater, New Jersey.

CIG Pannonia Life Insurance Plc. is a Hungarian multinational financial services company headquartered in Budapest. Its core business and focus is life and non-life insurance. At present, CIG Pannonia is engaged in the life insurance business in Hungary, Romania and Slovakia.

Allergan plc is an American, Irish-domiciled pharmaceutical company that acquires, develops, manufactures and markets brand name drugs and medical devices in the areas of medical aesthetics, eye care, central nervous system, and gastroenterology. The company is the maker of Botox.

<span class="mw-page-title-main">Gedeon Richter</span> Hungarian pharmacist

Gedeon Richter was a Hungarian pharmacist, founder of Gedeon Richter plc and a pioneer of the modern Hungarian pharmaceutical industry.

Ernest Loumaye is a Belgian entrepreneur known for his works in the women's health care industry. He is the co-founder and CEO of ObsEva, a clinical-stage biopharmaceutical company focused on the clinical development and commercialization of novel therapeutics for severe medical conditions relating to women’s reproductive and pregnancy health.

<span class="mw-page-title-main">János Csák</span> Hungarian businessman and minister (born 1962)

János Csák is a Hungarian corporate leader, honorary professor of management, who served as a Minister of Culture and Innovation between May 2022 till June 2024. Formerly, he served as Ambassador of Hungary to the United Kingdom between 2011 and 2014.

<span class="mw-page-title-main">Ági Pataki</span>

Ági Pataki is a Hungarian model and film producer. She was featured in posters for the Kőbánya Pharmaceuticals' Fabulon product line for about two decades. She also appeared in promotions for brands such as Pepsi, Philip Morris, L'Oréal Professionnel, and Semperit. In 2019, at age 67, she became the poster face of Helia-D's Cell Concept anti-wrinkle product line.

Peter Grootenhuis was a Dutch-American Medicinal Chemist. Grootenhuis was the Project Leader and Co-Inventor of Ivacaftor (VX-770), the first CFTR potentiator FDA approved drug to treat the underlying cause of Cystic Fibrosis (CF) in patients with certain mutations in the Cystic Fibrosis Transmembrane Conductance Regulator (CFTR) gene, who account for 4-5% of CF cases. Grootenhuis also led the Vertex team to subsequent discovery of Orkambi, the combination of Ivacaftor and Lumacaftor(VX-809), approved to treat CF in people with two copies of the F508del mutation. Most recently, Grootenhuis's team discovered Tezacaftor (VX-661) and Elexacaftor (VX-445), which in combination with Ivacaftor are the components of Trikafta, a drug approved by the FDA in 2019 to treat CF in more than 90% of CF patients. For Grootenhuis’ contributions to the discovery of these compounds, he was awarded the 2018 IUPAC Richter Prize, the American Chemical Society’s 2013 Heroes of Chemistry Award, and inducted into the American Chemical Society Division of Medicinal Chemistry Hall of Fame. Grootenhuis has contributed to the discovery of over 11 clinical candidates, co-authored more than 100 peer reviewed papers and is inventor of 65 + U.S Patents, and more than 50 EU Patents.

<span class="mw-page-title-main">William de Gelsey</span> Hungarian-British economist (1921–2021)

Baron William de Gelsey of Gelse and Beliscse, internationally known as William de Gelsey, was a British banker and economist of Hungarian origin. He was chief adviser of the Board of Directors of UniCredit CAIB Securities and chairman of the board of directors at the pharmaceutical company Richter Gedeon Nyrt.

<span class="mw-page-title-main">ELTE Faculty of Science</span>

The Faculty of Science of Eötvös Loránd University was founded in 1949 and it is located in Lágymányos Campus, Újbuda, Budapest, Hungary.

References

  1. ↑ "Annual Report 2018" (PDF). RG. Retrieved 15 Apr 2018.
  2. ↑ "Consolidated Financial Statements 2018" (PDF). RG. Retrieved 6 May 2018.
  3. ↑ "AbbVie, Gedeon Richter ink pact to develop & commercialize novel dopamine receptor modulators to treat neuropsychiatric diseases". Archived from the original on 2023-03-17. Retrieved 2023-03-03.
  4. ↑ "Gedeon Richter UK Ltd". Pharmacy In Focus. Retrieved 2023-11-16.
  5. ↑ https://www.hermes-investment.com/au/en/professional/insights/active-esg/global-emerging-markets-positive-impact-case-study-richter-gedeon-nyrt/
  6. ↑ "AbbVie and Gedeon Richter Announce Collaboration in Neuropsychiatric Diseases | AbbVie News Center".
  7. ↑ "Gedeon Richter's first participation in the World Congress of Biological Psychiatry".
  8. ↑ "US success offsets coronavirus impact for Gedeon Richter".
  9. 1 2 "Gedeon Richter Company Report (2018(" (PDF).
  10. ↑ "Actavis and Gedeon Richter Plc. Announce FDA Receipt of NDA Resubmission for Cariprazine". actavis.com/. 6 Jan 2015. Archived from the original on 16 January 2015. Retrieved 13 Jan 2015.
  11. ↑ "Gedeon Richter". www.pharmunion.am. Archived from the original on 2019-05-06. Retrieved 2019-05-06.
  12. ↑ "A deer in our heart". 12 May 2014. Archived from the original on 17 January 2015. Retrieved 13 Jan 2015.
  13. ↑ "Gedeon Richter: Our History" . Retrieved 7 July 2024.
  14. ↑ "Firm Hopes to Market New 'Memory' Drug". Los Angeles Times. 1986-04-15. ISSN   0458-3035 . Retrieved 2019-04-10.
  15. ↑ Zhang YS, Li JD, Yan C (January 2018). "An update on vinpocetine: New discoveries and clinical implications". European Journal of Pharmacology. 819: 30–34. doi: 10.1016/j.ejphar.2017.11.041 . PMC   5766389 . PMID   29183836.
  16. ↑ Murphy, Caryle (1997-06-12). "ABORTION PILL'S U.S. SPONSOR SUING HUNGARIAN DRUG FIRM". Washington Post. ISSN   0190-8286 . Retrieved 2023-11-16.
  17. ↑ "ABORTION PILL'S U.S. SPONSOR SUING HUNGARIAN DRUG FIRM". Washington Post. 1997-06-12. ISSN   0190-8286 . Retrieved 2019-06-13.
  18. ↑ Editors, Business; Wire, 2006 Business (2006-05-23). "(BW) Gedeon Richter and Repros Therapeutics Enter into Supply Agreement for Repros' Drug Proellex(TM)". Houston Chronicle. Retrieved 2019-05-28.{{cite web}}: |last1= has generic name (help)CS1 maint: numeric names: authors list (link)
  19. ↑ "Barr Pharma announces that Gedeon Richter, Plc. has received final..." Reuters. 2007-07-02. Retrieved 2019-06-19.
  20. ↑ "Gedeon Richter Biopharmaceutical Plant". Pharmaceutical Technology. Retrieved 2019-04-15.
  21. ↑ "Richter acquires Swiss-based PregLem". bbjonline. Archived from the original on 17 February 2013. Retrieved 7 October 2010.
  22. ↑ "Richter Announces the Acquisition of PregLem". Fierce Biotech. 7 October 2010. Retrieved 2019-06-19.
  23. ↑ "STADA Arzneimittel AG | Press Releases". STADA. Archived from the original on 2019-04-26. Retrieved 2019-04-26.
  24. 1 2 "Gedeon Richter Plc. - Board of Directors". www.richter.hu. Archived from the original on 2018-08-02. Retrieved 2019-06-13.
  25. 1 2 "Baron William de Gelsey Resigns As Chairman Of Richter's Board Of Directors". Hungary Today. 2016-12-06. Retrieved 2019-04-26.
  26. 1 2 "Plan B Pill Maker Replaces CEO After 25 Years". Bloomberg.com. 2 October 2017. Retrieved 2019-04-26.
  27. ↑ "BRIEF-Evestra has signed a collaboration partnership agreement with..." Reuters. 2017-04-06. Retrieved 2019-04-30.
  28. ↑ "Yvette Zimmerman new CEO Pantarhei Bioscience: "We find safe and effective new treatments using existing human molecules." – Pantarhei Bioscience". 22 January 2019. Retrieved 2019-04-30.
  29. ↑ "Mithra Pharmaceuticals and Gedeon Richter set to market Estelle". Wallonia.be. Retrieved 2019-06-25.
  30. ↑ "Subsidiaries Manufacturing subsidiaries". www.richter.hu. Retrieved 2019-04-10.
  31. ↑ "Gedeon Richter Plc. - Supervisory Committee". www.richter.hu. Retrieved 2019-06-13.
  32. ↑ "Gedeon Richter Plc. - Supervisory Committee". www.richter.hu. Retrieved 2019-04-30.
  33. ↑ "Gedeon Richter Annual Report 2018" (PDF). richter.hu. 2018-12-31. Retrieved 2019-06-25.
  34. 1 2 "English Home". www.richter.hu. Retrieved 2018-12-19.
  35. ↑ "Gedeon Richter Wins 2017 Innovation Grand Prize". Hungary Today. 2018-03-29. Retrieved 2019-04-12.
  36. ↑ "IUPAC-Richter Prize in Medicinal Chemistry". IUPAC | International Union of Pure and Applied Chemistry. Retrieved 2019-04-12.

Commons-logo.svg Media related to Gedeon Richter Ltd. at Wikimedia Commons

This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.