Bloomberg News

Richter Falls to 7-Week Low on Competitor Contraceptive Approval

November 29, 2011

Nov. 29 (Bloomberg) -- Gedeon Richter Nyrt., Hungary’s largest drugmaker, fell to the lowest in seven weeks after U.S. competitor Watson Pharmaceuticals Inc. received approval from the Food and Drug Administration for Vestura, a generic contraceptive drug.

The shares of Richter, which makes the Plan B morning-after contraceptive pill, fell 1.9 percent to 33,755 forint, the lowest on a closing basis since Oct. 10, by 4:27 p.m. in Budapest.

Vestura is a generic version of Bayer AG’s Yaz oral contraceptive.

--Editors: Peter Branton, Linda Shen

To contact the reporter on this story: Andras Gergely in Budapest at agergely@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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