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Richter fears Russian decree

Drug maker Gedeon Richter Rt said a Russian government decree removing imports from a list of subsidized drugs will reduce the Hungarian company's second- half sales by USD 20 million. "We will feel the impact of the decree on our sales in the second half of the year when we will miss revenue of USD 20 million, according to our preliminary calculations," Budapest- based Richter said.

Richter said earlier today about 25 % of the drugs it sold in Russia in the first quarter, worth USD 10 million, were included on the list. While imports will remain on the list of subsidized drugs until Dec. 1, those delivered in Russia after July 1 will no longer be subsidized, Richter said.

(BBJ 06.vi.05)

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