Gedeon Richter Media Richter publishes Q2/H1 2026 results
Richter publishes Q2/H1 2026 results
07/08/2026
Improving dynamics and upgraded Clean EBIT guidance
  • CER Pharma revenues grew by 8.7%, driven by CNS and BIO and also reflecting improving WHC and GenMed dynamics in Q2. Reported Pharma revenues declined by 0.5% YoY to HUF 455bn in H1 2026, implying around 9ppt currency headwind.
  • CER Clean EBIT (pharma) growth was outstanding at 21%, driven by the outperformance of cariprazine and the benefits of our multi-year efficiency initiatives; reported Clean EBIT (pharma) grew by only 3% to HUF 151.8bn.
  • Net profit was HUF 103.5bn in H1 2026, down by 14% YoY due to large, HUF 27.1bn FX losses burdening the period. Free Cash Flow generation was up by a solid 24% YoY to HUF 137bn.
  • 2026 Clean EBIT guidance (at constant exchange rates, CER) is upgraded to “double-digit growth” on the back of the strong H1 profitability.

 

Budapest, 7 August 2026 - Gedeon Richter Plc. (“Richter”) announced today its Q2/H1 2026 financial results. 

CER (constant exchange rate) Pharma revenues grew by 8.7% in H1 2026, in line with the high-single-digit growth guidance for the full year and reflected improving dynamics in Q2. FX remains a major drag on reported revenues and represented around 9ppt headwind in H1 (primarily due to the strong HUF). Hence, reported Pharma revenues declined by 0.5% YoY to HUF 455bn in H1 2026.   

  • CNS revenues increased by 7% in H1 2026 YoY, as currency movements partly offset the impressive performance of Vraylar® (AbbVie’s net sales increased by 19% YoY to USD 1.98bn reflecting strong demand growth and market share gains in both bipolar disorder and adjunctive MDD) and jumping Reagila® sales (+25% CER, driven by higher supply revenues and high-performing countries in both Richter and partner territories).
  • Women’s Healthcare sales growth (+7% CER in H1) accelerated in Q2 as Endometriosis and Menopause consistently outperform expectations. Lower Eastern European sales and slower dynamics in traditional OC products continue to affect top-line growth. The underlying strength of the leading products (Drovelis®, Ryeqo®, Lenzetto® and Bemfola®) remains intact.
  • BIO revenues jumped in H1 (+30% CER), driven by biosimilar revenues (very strong teriparatide sales and new product launches).
  • GenMed revenues fell by 5% in H1 YoY (CER) although sales dynamics have incrementally been improving. The lack of flu season (weak OTC), a high base and the ongoing rationalization of distributors’ inventory holding affected top-line.

Gross profit (pharma) fell by 2.2% YoY to HUF 314bn in H1 2026; gross margin declined to 69% (-1.2ppt), despite improving trends in Q2.

CER Clean EBIT (pharma) growth was outstanding at 21% in H1 2026, driven by the outperformance of cariprazine, improving WHC profitability and also supported by lower opex. Reported Clean EBIT (pharma) grew by only 3% to HUF 151.8bn due to the FX headwind. 

Reported EBIT stood at HUF 143.5bn in H1 2026, 2.2% higher YoY.

Net profit (attributable to the owners of the parent) was HUF 103.5bn in H1 2026, declining by 14% YoY, as a result of large, HUF 27.1bn FX losses (mostly unrealized yet) burdening the period as financial expenses.  

Free cash flow (before M&A) was at another record-high of HUF 137bn in H1 2026, up 24% YoY, driven by lower Net Working Capital funding need vs. a year ago, and higher operating profits, partly offset by FX losses. 

The multi-year project to optimize and centralize API (active pharmaceutical ingredient) manufacturing in Hungary was completed. The project reduces duplications, improves efficiency, leads to a more compact site structure in Budapest and makes Dorog the API manufacturing site of Richter. Centralizing API manufacturing not only brought in much improved operational efficiency, but also delivered significant environmental benefits. This includes significantly lower energy consumption, materially less overall wastewater and hazardous waste generation, reduced net operational areas and an improved industrial footprint. 

Gábor Orbán, CEO commented the results:

“Top-line growth accelerated in Q2, fully in line with our high-single-digit (CER) growth target for the year, driven by improving dynamics in both Women’s Healthcare and GenMed alongside sustained strength in CNS and BIO revenues. We are upgrading our profitability guidance for 2026 to double-digit Clean EBIT growth (CER), reflecting the outstanding performance of Vraylar® and visible benefits of our multi-year efficiency initiatives. Reported financial results continue to be affected by currency trends. We successfully launched Fylrevy®, an innovative hormone therapy for menopause, in selected pilot markets in Europe; Tuyory®, our tocilizumab biosimilar is now being commercialized; another CNS molecule (RGH-202) is entering Phase II clinical trials; and we further expand our GLP-1 portfolio through global partnerships.”

About Gedeon Richter Plc.

Richter aspires to be a global innovator in some key scientific fields, while dedicated to making medicines more accessible worldwide. Founded in 1901, headquartered in Hungary, with a market capitalization of EUR 4.8bn and sales of EUR 2.3bn in 2025, it operates Central Europe's largest R&D hub. Its research drives breakthroughs in Neuropsychiatry and Women's Healthcare, while Biotechnology and General Medicines strengthen its affordable treatment portfolio. Committed to sustainable growth, Richter invests in R&D, manufacturing excellence, and digitalization to advance medical innovation. Learn more at www.gedeonrichter.com

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