Deals
Richter Sees 80 Million-Euro Revenue Boost From Finox Purchase
- Richter to pay 190 million Swiss francs in cash for Finox
- Richter CEO Bogsch sees return on investment in 5-6 years
This article is for subscribers only.
Gedeon Richter Nyrt. expects the acquisition of Swiss biotech company Finox Holding to boost revenue for Hungary’s largest drugmaker by as much as 80 million euros ($89 million) in three years, Chief Executive Officer Erik Bogsch said.
The company is paying 190 millions Swiss francs ($194 million) in cash for Finox, which produces Bemfola, a biosimilar product that stimulates ovaries to treat infertility, it said in a statement on the Budapest Stock Exchange Thursday. The acquisition complements Richter’s women’s health-care product line and the company expects a return on the investment over the next five to six years, Bogsch said on a conference call following the announcement.