Industry / Hungary
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External Factors Weaken Egis Results
August 2008 | Industry NewsSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Hungary's Egis - like domestic rival Gedeon Richter - is having to deal with external pressures on both the domestic and foreign fronts in 2008, as sales for Q208 (FYQ3) dropped 5% year-on-year (y-o-y). Hungary's unfavourable regulatory environment, along with the recent strengthening of the forint, appears to be the main cause of the decline. On a positive note, sales growth in US dollars for other countries in Central and Eastern Europe (CEE) grew strongly at 32%