Gedeon Richter's sales in Russia rose by 60% in first quarter
This article was originally published in Scrip
Gedeon Richter's sales in Russia, its largest individual market, rose by 56% to €63 million in the first quarter of this year. The company attributed the growth to relatively low sales in the first quarter of 2009 and increased shipments to wholesalers before the introduction of fixed prices on 1 April (scripnews.com, 19 March 2010). Russia accounted for 27% of Richter's €236 million (+14%) total sales, while all ex-Soviet republics (excluding the Baltic states) together contributed around 40% (€90 million, +51%). The company saw even stronger growth of revenues in Ukraine – by 71% to €11 million.
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