Hungarian drugmaker Gedeon Richter secured a $5m convertible loan from Texas-based biopharmaceutical company Evestra. Richter will use the funding to advance the development of its women’s health product pipeline. Under the terms of the agreement, Richter has the option to repay the loan after three years or convert it into an equity stake in Evestra.
Richter’s consolidated sales were approximately €1.1 bln ($1.5 bln), while its market capitalization amounted to €2.1 bln ($2.5 bln) in 2014.
