Richter Softens Sales Decline Forecast on Russian Outlook
- Consolidated revenue may decline less than earlier expected
- CEO raises Russian sales guidance on stronger demand
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Hungarian drugmaker Richter Gedeon Nyrt. said revenue may fall less than earlier forecast this year on the back of stronger sales in Russia.
The company posted net income of 18.1 billion forint ($64 million) for the second quarter, down 19 percent from a year earlier. Revenue rose 1.7 percent while sales and marketing expenses increased 9 percent to 28 billion forint.