Pharma Giant Gedeon Richter Posts Healthy 2025 Results

CNS revenues increased by 9% in 2025 YoY, driven by steady prescription growth for Vraylar (AbbVie’s net sales increased by 11% to USD 3.6bn in 2025) and despite the depreciating USD. Reagila sales were up 7% YoY, as double-digit growth continued in Richter’s own network.

Women’s Healthcare sales growth accelerated in Q4, supported by the timing of some deliveries and a low base in Eastern Europe. Full-year growth was an impressive 15%, driven by continued momentum of the leading products (Drovelis, Ryeqo, Lenzetto, Evra) and the focus therapeutic segments (endometriosis, menopause and fertility). The share of contraceptives declined below 60% of total WHC revenues.

BIO revenues jumped in Q4, driven by the timing of CDMO revenue booking and new product sales, while teriparatide delivered steady growth. This brought the overall 2025 revenue growth to a remarkable 19%.

GenMed revenues recovered in Q4, yet the full year was affected by the Q3 weakness on multiple (mostly non-recurring) headwinds, including supply chain disruptions and product stockouts. Growth was slightly negative for the full year.

Gross profit (pharma) grew by 8% to HUF 635bn, while gross margin was marginally higher (+0.2ppt) at 69.5% in 2025.

Clean EBIT (pharma) increased by 37% YoY to HUF 92bn in Q4 2025, bringing FY 2025 Clean EBIT to HUF 305bn, up by 14%. “CER” Clean EBIT growth was also 14%, ahead of the full-year guidance, as all four business units improved their profitability in 2025.

Reported EBIT stood at HUF 292.9bn in 2025, rising 12.1% YoY.

Net profit (attributable to the owners of the parent) was HUF 232.3bn in 2025, declining by 3% from last year, despite the stronger operating performance. This was primarily the consequence of net financials being negative (HUF 10.8bn net expenses) in 2025 due to large, HUF 25bn FX losses vs. positive net financials and FX gains a year ago.

Free cash flow (before M&A) increased by 2% to HUF 250bn in 2025, as higher EBIT and lower capex was partly offset by a larger build in NWC and the realized FX losses. Apart from the payment of the regular annual dividend (HUF 93bn, paid in Q2), only some smaller transactions took place in 2025, implying that a considerable part of the FCF added to the net cash position.

Gábor Orbán, CEO commented the results:

A strong year-end rounded off a challenging 2025 with our Clean EBIT eventually outperforming guidance and hitting a new record 14% above base year.”

“Steady prescription growth for Vraylar, solid momentum in Women’s Healthcare, and robust double-digit growth in Biotechnology drove topline growth, while cost discipline and tangible benefits from our multi-year efficiency programs led to a visible uplift in our non-CNS margins. 2026 will be an exciting year as our innovative businesses are working on breakthrough therapies and progressing their pipeline, while sustaining strong revenue growth from existing assets. Multiple affordable product launches, at the same time, will broaden access to quality medicines to millions of additional patients. We expect this to translate into high-single-digit growth in both revenues and underlying profits in 2026.”

Featured Image: Hungary Today