Richter CEO Warns Forint Strength Is Hitting Hungary’s Exporters

Hungary’s post-election market rally is turning into a challenge for Gedeon Richter Nyrt., as a strengthening forint erodes earnings for the export-dependent drugmaker.

Chief Executive Officer Gabor Orban told Bloomberg News that the currency’s rapid appreciation, rather than a decline in short-term interest rates, is driving the country’s improving financial conditions, creating pressure for companies with significant revenues from abroad.