Richter buys Grunenthal's contraceptive business

BUDAPEST Wed Nov 3, 2010 2:31am EDT

BUDAPEST Nov 3 (Reuters) - Hungarian drug maker Richter GDRB.BU has acquired German Grunenthal GmbH's oral contraceptive portfolio for a cash purchase price of 236.5 million euros ($329.8 million), Richter said on Wednesday.

"Grunenthal's existing oral contraceptive business represents a strategic fit for Richter to both strengthen its presence in Western European markets and expand its oral contraceptive product portfolio," it said in a statement.

The purchase includes distribution and marketing rights in all markets worldwide where registration approvals have been granted, Richter said. ($1=.7172 Euro) (Reporting by Gergely Szakacs; Editing by Hans Peters)

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