Equity 28 March 2018, 4:05pm

Richter drug wins 2017 Innovation Grand Prize in Hungary

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The Hungarian Innovation Foundation has awarded Gedeon Richter Plc the Innovation Grand Prize for its tender proposal entitled “Cariprazine (Vraylar/Reagila), a new original Hungarian drug on the global market".

Innovation has always played a key role in Richter's strategy with a special focus on the research and development of original drugs. In the course of its 117-year history, Richter has given over 10 proprietary medicines to the Hungarian pharmaceutical industry, making a significant contribution to improving the health of people all over the world. The laudatory address praising cariprazine highlighted the following: The key result of the product innovation honoured by this award is an original drug primarily manufactured in Hungary that was developed by Hungarian scientific researchers and developers, and which has a marketing authorisation for over 70% of the global pharmaceutical market.

The success of cariprazine is of historic importance not only for Richter but also for the entire Hungarian pharmaceutical industry. This is the first drug licensed in the United States that was invented by the researchers of a Hungarian-based pharmaceutical company and pre-clinical research and development were carried out by the same Hungarian company. As the clinical development stage incurred high costs, we involved a partner, so we were able to get to the final stage of obtaining the marketing license by joint funding and management. I believe that this recognition is the outcome of the great teamwork and exceptional knowledge base that have always characterised Richter since its foundation

, said Richter's Chairman Erik Bogsch upon receipt of the award.

Erik Bogsch, Chairman of Richter, receives the Innovation Grand Prize in Parliament on 28 March 2018. Photo by Gábor Bodó

About Cariprazine

Cariprazine is an orally administered atypical antipsychotic drug that was invented by Richters researchers and was later developed together with Allergan (formerly Forest / Actavis) to treat schizophrenia and bipolar disorder. The United States Food and Drug Administration (FDA) approved cariprazine capsules in September 2015 for treating adult patients suffering from bipolar I disorder associated with manic and mixed episodes and schizophrenia. The product was introduced on the US market under the brand name Vraylar on 16 March 2016. The European Commission issued the marketing license of Cariprazine for the EU in July 2017 for the treatment of adult schizophrenic patients. Reimbursement negotiations for the product marketed in Europe under the brand name Reagila are currently underway in several EU countries, and the drug will be introduced in these countries this year and next year.The clinical development of cariprazine continues for other indications among adult patients to treat bipolar depression and as adjunctive therapy for major depressive disorder.