Richter Falls Most Since September as State Fund Sells Shares

Gedeon Richter Nyrt. (RICHT), Hungary’s biggest drugmaker, fell the most in more than four months after a state-controlled fund sold shares in the company.

The stock dropped 4.6 percent to 37,150 forint by the close in Budapest, the biggest daily plunge since Sep. 22, erasing this week’s advance.

The stake in the company held by the state’s Pension Reform and Debt Reduction Fund, created after the government took over assets from privately managed retirement funds, fell below 5 percent, Richter said in a statement to the Budapest Stock Exchange today.

To contact the reporter on this story: Andras Gergely in Budapest at agergely@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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