Buy Or Sell Opportunity • Jun 24
Now 37% undervalued after recent price drop Over the last 90 days, the stock has fallen 57% to Ft5,040. The fair value is estimated to be Ft8,032, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.2% over the last 3 years. Earnings per share has grown by 21%. For the next 3 years, revenue is forecast to grow by 3.8% per annum. Earnings are also forecast to grow by 0.7% per annum over the same time period. Announcement • May 30
Gedeon Richter PLC Approves Dividend for the Financial Year 2025 The Annual General Meeting of Gedeon Richter Plc. held on 29 April 2026 approved to pay a dividend of HUF 120,000 million in respect of the 2025 financial year. The details of the dividend payment process were published by the Company on 26 May 2026. Gedeon Richter Plc. directly and indirectly owns 3,295,804,C" series Richter common shares. The dividend on treasury shares will be distributed to those shareholders eligible for such dividend, in proportion to their number of shares. Based on the Company's current number of treasury shares, Gedeon Richter Plc. pays HUF 655.4545 dividend per share. Buy Or Sell Opportunity • May 29
Now 33% undervalued after recent price drop Over the last 90 days, the stock has fallen 58% to Ft5,040. The fair value is estimated to be Ft7,549, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.2% over the last 3 years. Earnings per share has grown by 21%. For the next 3 years, revenue is forecast to grow by 4.2% per annum. Earnings are also forecast to grow by 1.1% per annum over the same time period. Upcoming Dividend • May 29
Upcoming dividend of Ft656 per share Eligible shareholders must have bought the stock before 03 June 2026. Payment date: 11 June 2026. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 4.1%. Lower than top quartile of British dividend payers (5.6%). Higher than average of industry peers (2.2%). Buy Or Sell Opportunity • May 13
Now 36% undervalued after recent price drop Over the last 90 days, the stock has fallen 55% to Ft5,040. The fair value is estimated to be Ft7,848, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.0% over the last 3 years. Earnings per share has grown by 21%. For the next 3 years, revenue is forecast to grow by 3.8% per annum. Earnings are also forecast to grow by 1.1% per annum over the same time period. Reported Earnings • May 05
Full year 2025 earnings released: EPS: Ft1,271 (vs Ft1,307 in FY 2024) Full year 2025 results: EPS: Ft1,271 (down from Ft1,307 in FY 2024). Revenue: Ft929.0b (up 8.3% from FY 2024). Net income: Ft232.3b (down 2.9% from FY 2024). Profit margin: 25% (down from 28% in FY 2024). The decrease in margin was driven by higher expenses. Products in clinical trials Phase I: 1 Phase II: 2 Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Pharmaceuticals industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 21% per year whereas the company’s share price has increased by 16% per year. Board Change • May 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 5 experienced directors. 6 highly experienced directors. Group Head of Controlling, CFO & Director Laszlo Kovacs was the last director to join the board, commencing their role in 2025. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Buy Or Sell Opportunity • Apr 22
Now 31% undervalued after recent price drop Over the last 90 days, the stock has fallen 51% to Ft5,040. The fair value is estimated to be Ft7,345, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.0% over the last 3 years. Earnings per share has grown by 21%. For the next 3 years, revenue is forecast to grow by 4.2% per annum. Earnings are also forecast to grow by 1.6% per annum over the same time period. Declared Dividend • Apr 21
Dividend of Ft656 announced Shareholders will receive a dividend of Ft656. Ex-date: 3rd June 2026 Payment date: 11th June 2026 Dividend yield will be 13%, which is higher than the industry average of 2.4%. Sustainability & Growth The dividend has increased by an average of 29% per year over the past 10 years. However, payments have been volatile during that time. Declared Dividend • Apr 13
Dividend of Ft656 announced Shareholders will receive a dividend of Ft656. Ex-date: 3rd June 2026 Payment date: 11th June 2026 Dividend yield will be 5.5%, which is higher than the industry average of 2.4%. Sustainability & Growth The dividend has increased by an average of 29% per year over the past 10 years. However, payments have been volatile during that time. Announcement • Apr 08
Gedeon Richter PLC announces Annual dividend, payable on June 11, 2026 Gedeon Richter PLC announced Annual dividend of HUF 656.0000 per share payable on June 11, 2026, ex-date on June 03, 2026 and record date on June 04, 2026. Buy Or Sell Opportunity • Mar 25
Now 39% undervalued after recent price drop Over the last 90 days, the stock has fallen 48% to Ft5,040. The fair value is estimated to be Ft8,199, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.0% over the last 3 years. Earnings per share has grown by 21%. For the next 3 years, revenue is forecast to grow by 4.2% per annum. Earnings are also forecast to grow by 1.6% per annum over the same time period. Buy Or Sell Opportunity • Mar 02
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 48% to Ft5,040. The fair value is estimated to be Ft6,547, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.0% over the last 3 years. Earnings per share has grown by 21%. For the next 3 years, revenue is forecast to grow by 5.4% per annum. Earnings are also forecast to grow by 9.8% per annum over the same time period. Reported Earnings • Mar 02
Full year 2025 earnings released: EPS: Ft1,271 (vs Ft1,307 in FY 2024) Full year 2025 results: EPS: Ft1,271 (down from Ft1,307 in FY 2024). Revenue: Ft929.0b (up 8.3% from FY 2024). Net income: Ft232.3b (down 2.9% from FY 2024). Profit margin: 25% (down from 28% in FY 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Pharmaceuticals industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has fallen by 13% per year, which means it is significantly lagging earnings. Announcement • Nov 28
SIA Emteko Holding agreed to acquire Gedeon Richter UA V.A.T from Gedeon Richter PLC (BUSE:RICHTER). SIA Emteko Holding agreed to acquire Gedeon Richter UA V.A.T from Gedeon Richter PLC (BUSE:RICHTER) on November 27, 2025.
The transaction has received approval from Antimonopoly Committee of Ukraine. Reported Earnings • Nov 12
Third quarter 2025 earnings released: EPS: Ft237 (vs Ft203 in 3Q 2024) Third quarter 2025 results: EPS: Ft237 (up from Ft203 in 3Q 2024). Revenue: Ft214.7b (flat on 3Q 2024). Net income: Ft43.3b (up 17% from 3Q 2024). Profit margin: 20% (up from 17% in 3Q 2024). Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Pharmaceuticals industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Aug 14
Now 60% undervalued after recent price drop Over the last 90 days, the stock has fallen 52% to Ft5,040. The fair value is estimated to be Ft12,449, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.2% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to grow by 6.7% per annum. Earnings are also forecast to grow by 9.7% per annum over the same time period. Reported Earnings • Aug 08
Second quarter 2025 earnings released: EPS: Ft283 (vs Ft383 in 2Q 2024) Second quarter 2025 results: EPS: Ft283 (down from Ft383 in 2Q 2024). Revenue: Ft241.5b (up 12% from 2Q 2024). Net income: Ft51.8b (down 26% from 2Q 2024). Profit margin: 22% (down from 32% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.2% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Pharmaceuticals industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Announcement • Jul 02
Gedeon Richter plc Receives European Commission Approval for Junod®? and Yaxwer®?, its Biosimilar Denosumab Products for Bone Disease and Osteoporosis Gedeon Richter plc announced that the European Commission (EC) granted marketing authorization for Junod®? and Yaxwer®?, its biosimilar denosumab products. The EC decision follows the positive opinion adopted on 25 April 2025 by the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA). This approval marks a significant milestone as Richter's monoclonal antibody biosimilars receive EC authorization. Junod®? andYaxwer®? are approved for all indications of the reference medicines Prolia®? and Xgeva®? (Amgen), including the treatment of osteoporosis in postmenopausal women, prevention of skeletal-related events in patients with bone metastases from solid tumors, and treatment of unresectable giant cell tumor of bone. The EC approval is based on a comprehensive development program demonstrating biosimilarity to the reference products in terms of quality, safety, and efficacy. Buy Or Sell Opportunity • May 14
Now 59% undervalued after recent price drop Over the last 90 days, the stock has fallen 53% to Ft5,040. The fair value is estimated to be Ft12,437, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 6.5% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to grow by 7.6% per annum. Earnings are also forecast to grow by 9.1% per annum over the same time period. Announcement • May 14
Richter Gedeon Vegyészeti Gyár Nyilvánosan Muködo Rt. (BUSE:RICHTER) acquired unknown majority stake of GRANATA BIO Corp. Richter Gedeon Vegyészeti Gyár Nyilvánosan Muködo Rt. (BUSE:RICHTER) acquired unknown majority stake of GRANATA BIO Corp on May 13, 2025. As part of the transaction, Richter will become a major investor in Granata Bio and gain a seat on Granata Bio’s Board of Directors.
Richter Gedeon Vegyészeti Gyár Nyilvánosan Muködo Rt. (BUSE:RICHTER) completed the acquisition of unknown majority stake of GRANATA BIO Corp on May 13, 2025. Buy Or Sell Opportunity • Apr 28
Now 53% undervalued after recent price drop Over the last 90 days, the stock has fallen 52% to Ft5,040. The fair value is estimated to be Ft10,801, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.0% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to grow by 7.2% per annum. Earnings are also forecast to grow by 9.1% per annum over the same time period. Declared Dividend • Apr 10
Dividend increased to Ft509 Dividend of Ft509 is 18% higher than last year. Ex-date: 3rd June 2025 Payment date: 12th June 2025 Dividend yield will be 4.9%, which is higher than the industry average of 2.4%. Sustainability & Growth Dividend is well covered by both earnings (35% earnings payout ratio) and cash flows (37% cash payout ratio). The dividend has increased by an average of 22% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 29% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 09
Full year 2024 earnings released: EPS: Ft1,307 (vs Ft860 in FY 2023) Full year 2024 results: EPS: Ft1,307 (up from Ft860 in FY 2023). Revenue: Ft857.5b (up 6.5% from FY 2023). Net income: Ft239.2b (up 51% from FY 2023). Profit margin: 28% (up from 20% in FY 2023). The increase in margin was primarily driven by higher revenue. Products in clinical trials Phase I: 1 Phase II: 1 Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Pharmaceuticals industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 14% per year. Announcement • Apr 09
Richter Gedeon Vegyészeti Gyár Nyilvánosan Muködo Rt. announces Annual dividend, payable on June 12, 2025 Richter Gedeon Vegyészeti Gyár Nyilvánosan Muködo Rt. announced Annual dividend of HUF 509.0000 per share payable on June 12, 2025, ex-date on June 03, 2025 and record date on June 04, 2025. Buy Or Sell Opportunity • Feb 26
Now 54% undervalued after recent price drop Over the last 90 days, the stock has fallen 52% to Ft5,040. The fair value is estimated to be Ft10,973, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.8% over the last 3 years. Earnings per share has grown by 10%. For the next 3 years, revenue is forecast to grow by 7.6% per annum. Earnings are also forecast to grow by 12% per annum over the same time period. Buy Or Sell Opportunity • Feb 11
Now 57% undervalued The stock has been flat over the last 90 days, currently trading at Ft5,040. The fair value is estimated to be Ft11,850, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.8% over the last 3 years. Earnings per share has grown by 10%. For the next 3 years, revenue is forecast to grow by 7.6% per annum. Earnings are also forecast to grow by 12% per annum over the same time period. Buy Or Sell Opportunity • Jan 23
Now 54% undervalued after recent price drop Over the last 90 days, the stock has fallen 54% to Ft5,040. The fair value is estimated to be Ft11,004, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.8% over the last 3 years. Earnings per share has grown by 10%. For the next 3 years, revenue is forecast to grow by 8.1% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Buy Or Sell Opportunity • Jan 08
Now 54% undervalued The stock has been flat over the last 90 days, currently trading at Ft5,040. The fair value is estimated to be Ft10,911, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.8% over the last 3 years. Earnings per share has grown by 10%. For the next 3 years, revenue is forecast to grow by 8.1% per annum. Earnings are also forecast to grow by 13% per annum over the same time period. Announcement • Dec 10
Richter Gedeon Vegyészeti Gyár Nyilvánosan Muködo Rt., Annual General Meeting, Apr 29, 2025 Richter Gedeon Vegyészeti Gyár Nyilvánosan Muködo Rt., Annual General Meeting, Apr 29, 2025. Buy Or Sell Opportunity • Dec 05
Now 62% undervalued after recent price drop Over the last 90 days, the stock has fallen 52% to Ft5,040. The fair value is estimated to be Ft13,159, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.8% over the last 3 years. Earnings per share has grown by 10%. For the next 3 years, revenue is forecast to grow by 9.1% per annum. Earnings are also forecast to grow by 14% per annum over the same time period. Reported Earnings • Nov 13
Third quarter 2024 earnings released: EPS: Ft203 (vs Ft294 in 3Q 2023) Third quarter 2024 results: EPS: Ft203 (down from Ft294 in 3Q 2023). Revenue: Ft216.7b (up 15% from 3Q 2023). Net income: Ft37.1b (down 32% from 3Q 2023). Profit margin: 17% (down from 29% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Pharmaceuticals industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 9% per year. Reported Earnings • Aug 07
Second quarter 2024 earnings released: EPS: Ft383 (vs Ft155 in 2Q 2023) Second quarter 2024 results: EPS: Ft383 (up from Ft155 in 2Q 2023). Revenue: Ft216.3b (up 6.1% from 2Q 2023). Net income: Ft70.0b (up 144% from 2Q 2023). Profit margin: 32% (up from 14% in 2Q 2023). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Pharmaceuticals industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 6% per year. Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment deteriorates as stock falls 45% After last week's 45% share price decline to Ft5,040, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 11x in the Pharmaceuticals industry in the United Kingdom. Total loss to shareholders of 30% over the past three years. Upcoming Dividend • May 29
Upcoming dividend of Ft423 per share Eligible shareholders must have bought the stock before 05 June 2024. Payment date: 13 June 2024. Payout ratio is a comfortable 49% but the company is paying out more than the cash it is generating. Trailing yield: 4.6%. Lower than top quartile of British dividend payers (5.7%). Higher than average of industry peers (2.3%). Board Change • May 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Peter Cserhati was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • May 15
First quarter 2024 earnings released: EPS: Ft373 (vs Ft210 in 1Q 2023) First quarter 2024 results: EPS: Ft373 (up from Ft210 in 1Q 2023). Revenue: Ft203.4b (down 3.0% from 1Q 2023). Net income: Ft68.2b (up 74% from 1Q 2023). Profit margin: 34% (up from 19% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Pharmaceuticals industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 5% per year. Declared Dividend • Apr 29
Dividend of Ft423 announced Shareholders will receive a dividend of Ft423. Ex-date: 5th June 2024 Payment date: 13th June 2024 Dividend yield will be 4.7%, which is higher than the industry average of 2.4%. Sustainability & Growth Dividend is covered by earnings (49% earnings payout ratio) but not covered by cash flows (266% cash payout ratio). The dividend has increased by an average of 22% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 59% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Board Change • Apr 11
High number of new directors Independent Director Peter Cserhati was the last director to join the board, commencing their role in 2023. Reported Earnings • Apr 06
Full year 2023 earnings released: EPS: Ft860 (vs Ft907 in FY 2022) Full year 2023 results: EPS: Ft860 (down from Ft907 in FY 2022). Revenue: Ft805.2b (flat on FY 2022). Net income: Ft158.9b (down 6.0% from FY 2022). Profit margin: 20% (down from 21% in FY 2022). Products in clinical trials Phase I: 4 Phase II: 1 Phase III: 1 Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Pharmaceuticals industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 02
Full year 2023 earnings released: EPS: Ft860 (vs Ft835 in FY 2022) Full year 2023 results: EPS: Ft860 (up from Ft835 in FY 2022). Revenue: Ft805.2b (flat on FY 2022). Net income: Ft158.9b (up 2.1% from FY 2022). Profit margin: 20% (in line with FY 2022). Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Pharmaceuticals industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 6% per year. Valuation Update With 7 Day Price Move • Dec 28
Investor sentiment deteriorates as stock falls 43% After last week's 43% share price decline to Ft5,040, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 12x in the Pharmaceuticals industry in the United Kingdom. Total loss to shareholders of 23% over the past three years. Valuation Update With 7 Day Price Move • Dec 12
Investor sentiment deteriorates as stock falls 43% After last week's 43% share price decline to Ft5,040, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 12x in the Pharmaceuticals industry in the United Kingdom. Total loss to shareholders of 23% over the past three years. Valuation Update With 7 Day Price Move • Nov 27
Investor sentiment deteriorates as stock falls 42% After last week's 42% share price decline to Ft5,040, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 13x in the Pharmaceuticals industry in the United Kingdom. Total loss to shareholders of 23% over the past three years. Reported Earnings • Nov 11
Third quarter 2023 earnings released: EPS: Ft294 (vs Ft442 in 3Q 2022) Third quarter 2023 results: EPS: Ft294 (down from Ft442 in 3Q 2022). Revenue: Ft188.5b (down 13% from 3Q 2022). Net income: Ft54.6b (down 34% from 3Q 2022). Profit margin: 29% (down from 38% in 3Q 2022). Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Pharmaceuticals industry in the United Kingdom. Buying Opportunity • Nov 09
Now 42% undervalued after recent price drop Over the last 90 days, the stock is down 46%. The fair value is estimated to be Ft8,646, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 26%. For the next 3 years, revenue is forecast to grow by 4.7% per annum. Earnings is also forecast to grow by 29% per annum over the same time period. Valuation Update With 7 Day Price Move • Nov 06
Investor sentiment deteriorates as stock falls 41% After last week's 41% share price decline to Ft5,040, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 12x in the Pharmaceuticals industry in the United Kingdom. Total loss to shareholders of 37% over the past year. Simply Wall St's valuation model estimates the intrinsic value at Ft8,763 per share. Announcement • Nov 04
European Commission Approves the Commercialisation of RYEQO® for the Symptomatic Treatment of Endometriosis Gedeon Richter Plc. together with Sumitomo Pharma America Inc. and Sumitomo Pharma Switzerland, GmbH ('SMPS') announce that the European Commission ('EC') has granted approval of a Type II Variation application for RYEQO® (relugolix 40 mg, estradiol 1.0 mg, and norethisterone acetate 0.5 mg) for the symptomatic treatment of endometriosis in women with a history of previous medical or surgical treatment for their endometriosis. This decision followed a positive opinion from the Committee for Medicinal Products for Human Use ('CHMP') of the European Medicines Agency ('EMA') on 15 September 2023 and is applicable for all Member States in the European Union. RYEQO® was initially approved by the EMA in July 2021 for the treatment of moderate-to-severe symptoms of uterine fibroids in adult women of reproductive age. Announcement • Nov 03
Gedeon Richter Plc., Sumitomo Pharma America, Inc. and Sumitomo Pharma Switzerland, GmbH Receives European Commission grant for Commercialisation of RYEQO® Gedeon Richter Plc. together with Sumitomo Pharma America Inc. and Sumitomo Pharma Switzerland, GmbH ('SMPS') announce that the European Commission ('EC') has granted approval of a Type II Variation application for RYEQO® (relugolix 40 mg, estradiol 1.0 mg, and norethisterone acetate 0.5 mg) for the symptomatic treatment of endometriosis in women with a history of previous medical or surgical treatment for their endometriosis. This decision followed a positive opinion from the Committee for Medicinal Products for Human Use ('CHMP') of the European Medicines Agency ('EMA') on 15 September 2023 and is applicable for all Member States in the European Union. RYEQO® was initially approved by the EMA in July 2021 for the treatment of moderate-to-severe symptoms of uterine fibroids in adult women of reproductive age. Buying Opportunity • Oct 25
Now 43% undervalued after recent price drop Over the last 90 days, the stock is down 43%. The fair value is estimated to be Ft8,849, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 26%. For the next 3 years, revenue is forecast to grow by 4.7% per annum. Earnings is also forecast to grow by 29% per annum over the same time period. Valuation Update With 7 Day Price Move • Oct 20
Investor sentiment deteriorates as stock falls 42% After last week's 42% share price decline to Ft5,040, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 13x in the Pharmaceuticals industry in the United Kingdom. Total loss to shareholders of 34% over the past year. Simply Wall St's valuation model estimates the intrinsic value at Ft8,764 per share. Buying Opportunity • Oct 06
Now 44% undervalued after recent price drop Over the last 90 days, the stock is down 40%. The fair value is estimated to be Ft8,967, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 26%. For the next 3 years, revenue is forecast to grow by 4.7% per annum. Earnings is also forecast to grow by 29% per annum over the same time period. Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment deteriorates as stock falls 45% After last week's 45% share price decline to Ft5,040, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 15x in the Pharmaceuticals industry in the United Kingdom. Total loss to shareholders of 29% over the past year. Simply Wall St's valuation model estimates the intrinsic value at Ft9,256 per share. Buying Opportunity • Sep 19
Now 45% undervalued after recent price drop Over the last 90 days, the stock is down 40%. The fair value is estimated to be Ft9,100, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 26%. For the next 3 years, revenue is forecast to grow by 4.9% per annum. Earnings is also forecast to grow by 29% per annum over the same time period. Announcement • Sep 17
Gedeon Richter and Sumitomo Pharma Receives Positive Chmp Opinion for Ryeqo(R) for Treatment of Endometriosis Gedeon Richter Plc. ('Richter') together with Sumitomo Pharma America, Inc. ('SMPA') and Sumitomo Pharma Switzerland GmbH ('SMPS') announced that the Committee for Medicinal Products for Human Use ("CHMP") of the European Medicines Agency ("EMA") has adopted a positive opinion recommending the approval of a Type II Variation application for RYEQO(R) (relugolix 40 mg, estradiol 1.0 mg, and norethisterone acetate 0.5 mg) for the symptomatic treatment of endometriosis in women with a history of previous medical or surgical treatment for their endometriosis. The European Commission ("EC") will review the CHMP recommendation and a final decision on the Marketing Authorization Application is expected to be available in the coming months. The decision will be applicable to all member states of the European Economic Area. RYEQO(R) was initially approved by the EMA in July 2021 for the treatment of moderate-to-severe symptoms of uterine fibroids in adult women of reproductive age. This application is supported by two, 24-week, multi-national clinical studies (SPIRIT 1 and SPIRIT 2) in more than 1,200 women with moderate-to-severe pain associated with endometriosis, as well as the 80-week, open-label extension study to assess longer-term use of RYEQO(R) . Together, these data represent up to two years of efficacy and safety information with RYEQO(R). Approximately 10% of women of reproductive age have endometriosis. Many women with endometriosis-associated pain are not able to manage their pain symptoms with current treatment options, underscoring the high unmet need for this disease . Endometriosis is a disease in which tissue similar to the uterine lining is found outside the uterine cavity, commonly in the lower abdomen or pelvis, on ovaries, the bladder, and the colon. This endometrial-like tissue outside the uterus results in chronic inflammation and can cause scarring and adhesions. The symptoms associated with endometriosis include painful periods and chronic pelvic pain, painful ovulation, pain during or after sexual intercourse, heavy bleeding, fatigue, and infertility. Endometriosis can also impact general physical, mental, and social well-being. RYEQO(R) (relugolix 40 mg, estradiol 1.0 mg, andnorethisterone acetate 0.5 mg) is approved for the treatment of moderate to severe symptoms of uterine fibroids in adult women of reproductive age. RYEQO(R) contains relugolix, which reduces the amount of estrogen (and other hormones) produced by ovaries, estradiol (an estrogen) which may reduce the risk of bone loss, and norethisterone acetate (a progestin) which is necessary when women with a uterus (womb) take estrogen. Valuation Update With 7 Day Price Move • Sep 08
Investor sentiment deteriorates as stock falls 43% After last week's 43% share price decline to Ft5,040, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 15x in the Pharmaceuticals industry in the United Kingdom. Total loss to shareholders of 22% over the past three years. Buying Opportunity • Aug 15
Now 49% undervalued after recent price drop Over the last 90 days, the stock is down 37%. The fair value is estimated to be Ft9,952, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 26%. For the next 3 years, revenue is forecast to grow by 3.9% per annum. Earnings is also forecast to grow by 25% per annum over the same time period. New Risk • Aug 07
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 20% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (127% cash payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (13% net profit margin). Reported Earnings • Aug 06
Second quarter 2023 earnings released: EPS: Ft155 (vs Ft411 in 2Q 2022) Second quarter 2023 results: EPS: Ft155 (down from Ft411 in 2Q 2022). Revenue: Ft203.8b (up 5.6% from 2Q 2022). Net income: Ft28.7b (down 62% from 2Q 2022). Profit margin: 14% (down from 40% in 2Q 2022). Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Pharmaceuticals industry in the United Kingdom. Buying Opportunity • Jul 28
Now 42% undervalued after recent price drop Over the last 90 days, the stock is down 38%. The fair value is estimated to be Ft8,715, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 37%. For the next 3 years, revenue is forecast to grow by 3.4% per annum. Earnings is also forecast to grow by 18% per annum over the same time period. Valuation Update With 7 Day Price Move • Jul 24
Investor sentiment deteriorates as stock falls 42% After last week's 42% share price decline to Ft5,040, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 15x in the Pharmaceuticals industry in the United Kingdom. Total loss to shareholders of 36% over the past year. Simply Wall St's valuation model estimates the intrinsic value at Ft8,569 per share. Buying Opportunity • Jul 12
Now 43% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be Ft8,840, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 37%. For the next 3 years, revenue is forecast to grow by 3.0% per annum. Earnings is also forecast to grow by 17% per annum over the same time period. Valuation Update With 7 Day Price Move • Jul 07
Investor sentiment deteriorates as stock falls 40% After last week's 40% share price decline to Ft5,040, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 14x in the Pharmaceuticals industry in the United Kingdom. Total returns to shareholders of 4.7% over the past year. Simply Wall St's valuation model estimates the intrinsic value at Ft9,297 per share. Buying Opportunity • Jun 23
Now 43% undervalued after recent price drop Over the last 90 days, the stock is down 33%. The fair value is estimated to be Ft8,776, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 37%. For the next 3 years, revenue is forecast to grow by 3.0% per annum. Earnings is also forecast to grow by 17% per annum over the same time period. Valuation Update With 7 Day Price Move • Jun 21
Investor sentiment deteriorates as stock falls 40% After last week's 40% share price decline to Ft5,040, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 15x in the Pharmaceuticals industry in the United Kingdom. Total loss to shareholders of 17% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Ft8,865 per share. Buying Opportunity • Jun 08
Now 43% undervalued after recent price drop Over the last 90 days, the stock is down 33%. The fair value is estimated to be Ft8,802, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 37%. For the next 3 years, revenue is forecast to grow by 3.0% per annum. Earnings is also forecast to grow by 17% per annum over the same time period. Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment deteriorates as stock falls 40% After last week's 40% share price decline to Ft5,040, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 17x in the Pharmaceuticals industry in the United Kingdom. Total loss to shareholders of 19% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Ft8,538 per share. Upcoming Dividend • May 31
Upcoming dividend of Ft390 per share at 4.5% yield Eligible shareholders must have bought the stock before 07 June 2023. Payment date: 15 June 2023. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 4.5%. Lower than top quartile of British dividend payers (5.9%). Higher than average of industry peers (2.5%). Buying Opportunity • May 24
Now 44% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be Ft9,016, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 37%. For the next 3 years, revenue is forecast to grow by 5.5% per annum. Earnings is also forecast to grow by 18% per annum over the same time period. Valuation Update With 7 Day Price Move • May 19
Investor sentiment deteriorates as stock falls 40% After last week's 40% share price decline to Ft5,040, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 17x in the Pharmaceuticals industry in the United Kingdom. Total loss to shareholders of 19% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Ft9,358 per share. Reported Earnings • May 14
First quarter 2023 earnings released: EPS: Ft210 (vs Ft199 in 1Q 2022) First quarter 2023 results: EPS: Ft210 (up from Ft199 in 1Q 2022). Revenue: Ft209.7b (up 25% from 1Q 2022). Net income: Ft39.2b (up 5.8% from 1Q 2022). Profit margin: 19% (down from 22% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Pharmaceuticals industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Buying Opportunity • May 09
Now 44% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be Ft8,962, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 45%. For the next 3 years, revenue is forecast to grow by 3.5% per annum. Earnings is also forecast to grow by 16% per annum over the same time period. Valuation Update With 7 Day Price Move • Apr 28
Investor sentiment deteriorates as stock falls 37% After last week's 37% share price decline to Ft5,040, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 14x in the Pharmaceuticals industry in the United Kingdom. Total loss to shareholders of 13% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Ft9,269 per share. Buying Opportunity • Apr 21
Now 47% undervalued The stock has been flat over the last 90 days. The fair value is estimated to be Ft9,463, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 45%. For the next 3 years, revenue is forecast to grow by 3.6% per annum. Earnings is also forecast to grow by 15% per annum over the same time period. Valuation Update With 7 Day Price Move • Apr 12
Investor sentiment deteriorates as stock falls 35% After last week's 35% share price decline to Ft5,040, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 15x in the Pharmaceuticals industry in the United Kingdom. Total loss to shareholders of 13% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Ft9,726 per share. Reported Earnings • Apr 07
Full year 2022 earnings released Full year 2022 results: Revenue: Ft802.8b (up 27% from FY 2021). Net income: Ft155.6b (up 11% from FY 2021). Profit margin: 19% (down from 22% in FY 2021). Products in clinical trials Phase III: 1 Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Pharmaceuticals industry in the United Kingdom. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment deteriorates as stock falls 33% After last week's 33% share price decline to Ft5,040, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 21x in the Pharmaceuticals industry in the United Kingdom. Total loss to shareholders of 16% over the past three years. Buying Opportunity • Mar 09
Now 32% undervalued after recent price drop Over the last 90 days, the stock is down 42%. The fair value is estimated to be Ft7,409, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 52%. For the next 3 years, revenue is forecast to grow by 4.9% per annum. Earnings is also forecast to grow by 11% per annum over the same time period. Valuation Update With 7 Day Price Move • Feb 28
Investor sentiment deteriorates as stock falls 35% After last week's 35% share price decline to Ft5,040, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 23x in the Pharmaceuticals industry in the United Kingdom. Total loss to shareholders of 21% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Ft8,024 per share. Buying Opportunity • Feb 17
Now 33% undervalued after recent price drop Over the last 90 days, the stock is down 37%. The fair value is estimated to be Ft7,533, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 52%. For the next 3 years, revenue is forecast to grow by 4.6% per annum. Earnings is also forecast to grow by 12% per annum over the same time period. Valuation Update With 7 Day Price Move • Feb 13
Investor sentiment deteriorates as stock falls 38% After last week's 38% share price decline to Ft5,040, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 19x in the Pharmaceuticals industry in the United Kingdom. Total loss to shareholders of 21% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Ft7,566 per share. Announcement • Feb 09
Richter Gedeon Vegyészeti Gyár Nyilvánosan Muködo Rt. (BUSE:RICHTER) acquired OC Distributors Ltd from Consilient Health for £32.5 million. Richter Gedeon Vegyészeti Gyár Nyilvánosan Muködo Rt. (BUSE:RICHTER) acquired OC Distributors Ltd from Consilient Health for £32.5 million on February 7, 2023. Geoffrey Burgess, Andrew Bab, Paul Rubin and Richard Ward of Debevoise & Plimpton LLP acted as legal advisor to Gedeon Richter.
Richter Gedeon Vegyészeti Gyár Nyilvánosan Muködo Rt. (BUSE:RICHTER) completed the acquisition of OC Distributors Ltd from Consilient Health on February 7, 2023. Buying Opportunity • Feb 02
Now 31% undervalued after recent price drop Over the last 90 days, the stock is down 38%. The fair value is estimated to be Ft7,265, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 52%. For the next 3 years, revenue is forecast to grow by 5.1% per annum. Earnings is also forecast to grow by 11% per annum over the same time period. Valuation Update With 7 Day Price Move • Jan 21
Investor sentiment deteriorated over the past week After last week's 40% share price decline to Ft5,040, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 18x in the Pharmaceuticals industry in the United Kingdom. Total loss to shareholders of 15% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Ft7,775 per share. Buying Opportunity • Jan 18
Now 33% undervalued after recent price drop Over the last 90 days, the stock is down 37%. The fair value is estimated to be Ft7,577, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 52%. For the next 3 years, revenue is forecast to grow by 5.4% per annum. Earnings is also forecast to grow by 11% per annum over the same time period. 
