For this reason, a talented pharmacist founded his own company Gedeon Richter
Gedeon Richter was born on September 23, 1872 in a Jewish family of wealthy merchants in the village of Eched in the Austro-Hungarian Empire. He is the third child in the family. Kidion’s parents did not live long. His mother died of postpartum fever. A year later, his father died of cholera. Gedeon and his two older brothers were sent to the town of Gyendyesh, where they were raised by their grandparents. Gideon entered the famous gymnasium there. The boy was separated from his peers because of his love of knowledge, and even spent his free time in the library during the summer vacation. There, he met a local pharmacist who noticed Richter’s fascination with science books and invited him to be his assistant. Fate determined his career. After graduating from the gym, the young man entered Kolovraj University. In 1893, he graduated with honors and obtained the diploma of apprentice pharmacist, and in the same year he entered Budapest University to study natural sciences and medicine. In 1895, Gideon graduated as a pharmacist and worked as an assistant pharmacist in Szolnok and Miskolc for the next two years.
In 1897, Richter visited Western Europe to learn about the operation of the largest pharmaceutical factories and pharmacies. During the journey, Gideon learned about many of the latest medicines and became more convinced that almost all diseases at the time could be cured.
In 1901, he returned to his hometown with the inherited money, bought a pharmacy in Budapest, and opened a pharmacy in Budapest, where he began to develop and produce the first organic medicine.
1902 was an important milestone for Richter, because the pharmacist and entrepreneur may have made the two most important decisions in his life. The first is to create an industrial company based on your pharmacy and call it your own name. The second decision was about his personal life. Gideon married Anna Winkler, the only daughter of a wealthy timber producer. Members of the Winkler family will subsequently become full members of Richter Pharmaceuticals and join the shareholders and board of directors. Gideon and Anna Richter will spend the rest of their lives together.
In 1903, the couple had a son, Laszlo. The expansion of the family is accompanied by the growth of Gedeon Richter, the capacity of the laboratory has increased year by year, and there is simply not enough retail space to sell all medicines.
In 1907, Richter made an obvious decision-he built a new building. In the following years, new parts were added and herbal and synthetic medicines were produced, especially painkillers, disinfectants and antipyretics.
Great changes took place in the First World War. The Austro-Hungarian Empire ceased to exist and formed independent states on its territory, including the Hungarian Soviet Republic. Gideon Richter was suppressed and accused of counter-revolutionary activities. In order to avoid the revolutionary court, he was forced to hide in the city of Szeged. After the fall of the Soviet power, a new government was established in Hungary, led by the regent of the Kingdom of Hungary, and Richter was able to return to his ideas.
By 1930, Gedeon Richter had established 10 subsidiaries in the UK, Mexico, Italy, São Paulo, Zagreb and Warsaw. However, the political situation in Hungary changed fundamentally in 1938. The Hoti regime began to implement an anti-Semitic policy, first passing the “First Jewish Law” and then the “Second Jewish Law”. As a result, people of this nationality Can hardly find a job. In 1942, the then 72-year-old Gedeon Richter was deprived of his position as the head of Gedeon Richter. In December 1944, the National Socialists and a group of other Jews shot him on the bank of the Danube and threw him out. Their bodies went into the river.
The collapse of the world’s socialist system did not bankrupt the company. With the accumulated experience and established tradition, the establishment of the company and the return to the market production mechanism proceeded smoothly.
In the 1990s, Gedeon Richter returned to his founder’s idea of creating and developing a network of “dominant points” in foreign markets. The company has 23 own or joint ventures and representative offices in 11 states including the United States, Japan, India and the Commonwealth of Independent States.
In 2006, the management of Gedeon Richter decided to start the development and production of biotech drugs. In 2007, the company acquired a small family-owned R&D and production plant near Hamburg to implement the plan. In 2012, the company completed an investment project worth 93.4 million euros in Hungary for the development and production of biotech drugs.
The company’s total revenue in 2018 was 1.4 billion euros and in 2019 it was 1.6 billion euros.