Hungarian pharmaceutical company Richter Gedeon announced on the 8th of August, that subsidiaries of its business partner Mitsubishi Tanabe Pharma Corporation have obtained regulatory approval for the use of Richterʼs antipsychotic cariprazine for the treatment of schizophrenia in Thailand and Singapore.
Richter is supplying Mitsubishi Tanabe Pharma with the cariprazine it is going to sell on those markets. Richter is entitled to regulatory-related milestone payments and sales-related royalties, MTI reported. Cariprazine is available in the USA and all countries in Western Europe, with the exception of France, the U.K. and Spain. The drug generated revenue of HUF 25.2 billion for Richter in the first half of 2019.
CEO, Gábor Orbán said that the company is working to bring cariprazine to markets around the world.
In the first half of 2019, Richterʼs net income increased 2% to HUF 39.5 bln, propped up by a smaller tax bill.