- Pharma revenues grew by 7% to HUF 669bn in Q1-Q3 2025. Innovative businesses (WHC and CNS/Vraylar®) sustained strong momentum, however, the affordable pillar faced multiple headwinds in Q3. Ex-FX revenue growth was 5.4%.
- Net profit was at HUF 163bn in Q1-Q3 2025, 7% lower YoY, as higher operating profits were offset by FX losses. Free cash-flow generation was outstanding and increased by 22% YoY to HUF 200bn in Q1-Q3 2025.
- Full-year guidance was revised: Ex-FX revenues are expected to be close to EUR 2.3bn in 2025, while ex-FX Clean EBIT is to increase by 8-10%.
Gábor Orbán, CEO commented the results:
“Our innovative businesses in Women’s Health and Neuropsychiatry continued to deliver strong momentum, achieving double-digit revenue growth and our cash generation is very strong overall. In contrast, GenMed’s topline faced several headwinds in Q3, including supply chain disruptions that caused stockouts for a key product, wholesaler destocking across multiple markets, regulatory changes, and a high prior-year base. CDMO revenues also fell short of the expected run rate. However, given steady growth in in-market sales, we anticipate most of these challenges will ease or disappear in the coming months. Accordingly, we have adjusted our full-year guidance and now expect CER revenues to be close to EUR 2.3 billion, with CER Clean EBIT projected to grow by 8–10% in 2025. The relative strength of our bottomline reflects disciplined cost control and the benefits of our long-standing efficiency initiatives.“