Early history
In 1901, the pharmacist Gedeon Richter founded the company, when he first received a license to industrially produce medicines.[5]
Initially, small-scale pharmaceutical production took place in the Arany Sas (Golden Eagle) Pharmacy, which still operates today. At the time pharmaceutical production on an industrial scale required heavy investments, and large-scale pharmaceutical manufacturing activities were considered to be extremely capital-intensive operations. Initially, the laboratory processed extracts from organs of animals and produced organotherapeutic drugs.
The plant was built in 1907 in the Kőbánya suburb of Budapest and was Hungary's first pharmaceutical manufacturing plant and regarded as an outstanding technological achievement in its day. In compliance with the established international trends of the pharmaceutical industry in those days, the company produced herbal drugs, processed extracts from plants and manufactured synthetic products at a later date. The company became a highly recognized manufacturer of lecithin products, antiseptic and febrifuge products, as well as painkillers (Hyperol, Kalmopyrin, and Tonogen, which continue to be in use). In 1934, Constant Janssen, of the future Janssen Pharmaceuticals, acquired the distribution rights for Gedeon Richter's products.[6]
The company was nationalized in 1948 and remained fully state-owned until 1994.[7]
In the 1970s, chemists at the Gedeon Richter Chemical Works in Budapest discovered the brain enhancing drug vinpocetine,[8] which continues to be used in treatment of cerebrovascular disorders.[9]
In 1995 Gedeon Richter signed a contract with Danco Laboratories to market an abortion pill mifepristone in the USA. Danco resolved to contracting Gedeon, because its prior attempts to find a US distributor failed due to "the politically volatile climate surrounding abortion in this country [the USA]."[10] Facing a strong opposition from the US pro-life groups, Gedeon decided in 1997 to end its efforts to place mifepristone on the U.S. market. On May 9, 1997 Danco filed a lawsuit against Gedeon, because they lost over $200 million due to the Gedeon's breach of contract.[10]
Recent history
In May 2006 Gedeon Richter signed a development and supply agreement with the US-based company Repros Therapeutics to produce Proellex.[11] In July 2007 Gedeon Richter signed a contract with Barr Pharma for the production of terbinafine, originally Novartis' Lamisil, where Barr paid Gedeon Richter a royalty for distributing the product in the U.S.[12]
From July 2008 - April 2012, the company constructed a new manufacturing facility ($110 million) in Debrecen.[13]
In October 2010, Gedeon Richter acquired 100% of a private Swiss biopharmaceutical company, PregLem, for CHF 445 million (€337 million).[14] PregLem is focused on the treatment of gynecological conditions and infertility.
