(Updates with closing price in second paragraph.)
Feb. 2 (Bloomberg) -- Gedeon Richter Nyrt., Hungary’s biggest drugmaker, jumped to the highest in almost 10 months after a study confirmed the efficacy of its drug Esmya.
The shares rose 3.7 percent to 38,300 forint by the end of trade in Budapest, the strongest close since April 8.
Esmya, produced by Richter’s subsidiary PregLem, “significantly improves symptoms of uterine fibroids (myomas),” Richter said, citing the results of two studies published in the New England Journal of Medicine.
“The news should add positive momentum to Richter today,” Gergely Palffy, a Budapest-based analyst at KBC Securities, wrote in a research report today.
--Editors: Linda Shen, Peter Branton
-0- Feb/02/2012 08:34 GMT
To contact the reporter on this story: Andras Gergely in Budapest at email@example.com
To contact the editor responsible for this story: Gavin Serkin at firstname.lastname@example.org -0- Feb/02/2012 08:20 GMT