Dr. Tibor Novak Gedeon Richter Plc.'s chief representative in Viet Nam delivers a speech at a press conference announcing its 60th year of presence in Viet Nam on Friday. — VNS Photo

HCM CITY (Biz Hub) — Leading Hungarian pharmaceutical company Gedeon Richter Plc. on Friday announced its 60th year of presence in Viet Nam.

The company was established by pharmacist Gedeon Richter in 1901, and had its products first available in Viet Nam in 1955.

"In 1950 Viet Nam and Hungary established political and diplomatic ties," said the company's chief representative in Viet Nam, Dr. Tibor Novak. "Richter products appeared five years later, and an uninterrupted six decade partnership between our company and this country began."

The Richter Representative Office also announced its 20th anniversary.

"In 1995 we were a team of just 20, bringing 26 products to Viet Nam," Dr. Novak said.

"We have grown to be a business that turns over US$10 million last year, with a team of over 80, spread across two offices, and with a product portfolio that includes over 10 million treatments across three business units."

The company reported 26 per cent year-on-year growth in the second quarter of this year, more than double the market's growth rate, and has seen its total revenues almost double in the past five years.

The company has become a recognized leader in gynecological products, and plays a significant role in treatments for cardiac and central nervous system conditions. Each business unit represents about a third of the company's total. — VNS