Richter CEO Stops Stock Rout Saying Drugmaker in Sound Shape
- Shares surge as much as 5 percent after four days of losses
- Richter’s stock plunged by a third amid a drug-safety probe
Photographer: Balint Porneczi/Bloomberg
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Gedeon Richter Nyrt., eastern Europe’s biggest pharmaceutical company that’s battled investor concerns this year over one of its flagship drugs, surged after four days of losses as Chief Executive Officer Gabor Orban said the firm’s fundamentals remained sound.
"Richter’s cash-generating ability is unchanged from last year," Orban, who’s unrelated to Hungary’s prime minister and who took over the reins of the company last year, said in comments communicated by spokeswoman Zsuzsa Beke to Bloomberg by phone on Thursday. "Concerns over the company’s fundamentals are unfounded."