Mithra jumps on supply deal with Gedeon Richter

Richter Gedeon Vegyeszeti Gyar Nyrt

08/08/2023 08:23

June 1 (Reuters) -    ** Shares in Mithra
Pharmaceuticals  MITRA.BR  jumps over 11%, after the
Belgium-based pharmaceutical company signed a binding supply
agreement with Hungary's Gedeon Richter  GDRB.BU  for the active
pharmaceutical ingredient (API) for its postmenopausal drugs For
Estelle and Donesta
    ** The agreement specifies that Gedeon Richter will
manufacture and supply the Estetrol (E4) native estrogen for
Mithra's combined oral contraceptive Estelle and Donesta
    ** "Given that Gedeon Richter was already manufacturing E4
for commercialization in its own regions, we anticipate a
relatively smooth production ramp-up without major supply chain
disruptions," says KBC Securities
    ** "Overall, we applaud Mithra's actions to secure its
supply chain, but expect no major impact on the commercial
business case," adds KBC
    ** Tuesday's jump marks seventh straight day of gains for
the stock which is touching its highest price in 5 months

 (Reporting by Dina Kartit)
 ((dina.kartit@thomsonreuters.com))