Equity
Hungary Egis introduces new drugs
The completed parts of hedge deals brought the company HUF 779 million profit, Egis added.
The company released its full-year results on Thursday morning. See our coverage here .
Egis said it purchased additional holdings in Hungaropharma for HUF 884 million and invested HUF 699 million into its Russian unit, Serdix. The Russian investment will be completed within two to three years, the management said.
In the 12 month between September 2003 and September 2004, wholesale purchases (of drugs) amounted to HUF 380 billion in Hungary. See relevant market shares below (expansion in brackets).
Richter: 8.2% (3%)
Novartis: 7.2% (12%)
Egis: 6.8% (11%)
Pfizer 6.1% (2%)
Sanofi: 5.8% (12%)
With regards to the number of packages sold, the market share of Egis was 12% with 325 million units.
The sale of 130 new generic products started on 1 October, of which Egis markets six products.
- Of its generic drug Hartil, Egis had HUF 4 billion sales in fiscal 2004, and the company it to put four sizes of packs of this product on market.
- Coverex forte will be introduced to add to regular Coverex
- 40 mg Vasipil (simvastatin) will be marketed.
- Egis will introduce two or three additional generic drugs on the Hungarian market by 30 September.
Deputy chief financial officer László Marosffy told the press conference that there might be a smaller increase in operating profit in the 2005 fiscal year, compared to this year's results. The expansion of the sales network, which has had unfavourable impact on profitability for years, will hurt the margin no more, the deputy CFO added.
Marossfy also said he expected 25% growth in Russian exports in the next fiscal year.
The company released its full-year results on Thursday morning. See our coverage here .
Egis said it purchased additional holdings in Hungaropharma for HUF 884 million and invested HUF 699 million into its Russian unit, Serdix. The Russian investment will be completed within two to three years, the management said.
In the 12 month between September 2003 and September 2004, wholesale purchases (of drugs) amounted to HUF 380 billion in Hungary. See relevant market shares below (expansion in brackets).
Richter: 8.2% (3%)
Novartis: 7.2% (12%)
Egis: 6.8% (11%)
Pfizer 6.1% (2%)
Sanofi: 5.8% (12%)
With regards to the number of packages sold, the market share of Egis was 12% with 325 million units.
The sale of 130 new generic products started on 1 October, of which Egis markets six products.
- Of its generic drug Hartil, Egis had HUF 4 billion sales in fiscal 2004, and the company it to put four sizes of packs of this product on market.
- Coverex forte will be introduced to add to regular Coverex
- 40 mg Vasipil (simvastatin) will be marketed.
- Egis will introduce two or three additional generic drugs on the Hungarian market by 30 September.
Deputy chief financial officer László Marosffy told the press conference that there might be a smaller increase in operating profit in the 2005 fiscal year, compared to this year's results. The expansion of the sales network, which has had unfavourable impact on profitability for years, will hurt the margin no more, the deputy CFO added.
Marossfy also said he expected 25% growth in Russian exports in the next fiscal year.
