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BRIEF-Hungary's Richter lifts 2017 operating profit guidance
November 9, 2017 / 8:51 AM / a month ago

BRIEF-Hungary's Richter lifts 2017 operating profit guidance

Nov 9 (Reuters) - Richter Gedeon Vegyeszeti Gyar Nyrt

* Sees 2017 operating profit margin at 15-16 percent versus 14 percent projected earlier –CEO Orban tells press briefing

* Declines comment on full-year revenue guidance due to exchange rate uncertainties

* Nine-month revenues rose 19.1 percent year-on-year to 1.08 billion euros ($1.25 billion) vs previous company guidance for 10 percent increase for the full year

* CEO says Richter’s overall strategy to remain unchanged

* Revenues from uterine fibroid medicine Esmya seen at 85 million euros in 2017 vs 80 million projected earlier

* Revenues from biggest market Russia seen at 20 billion roubles ($337.46 million) with “small upside risk”

* Research and development spending seen at 9-10 percent of revenues instead of 10-11 percent estimated earlier due to strong increase in revenues

* Shares gain 0.8 percent, outperform blue chip index Further company coverage: ($1 = 0.8626 euros) ($1 = 59.2655 roubles) (Reporting by Gergely Szakacs)

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