Opposition party (Fidesz) member and ex-health minister Istvan Mikola says pharma companies in Hungary are far too profitable. He is running for Deputy Prime Minister and pledged to curb pharma profits if elected.
We see the news as slightly negative as Fidesz has high chances of getting into parliament and securing many positions. We reiterate our Sell recommendation on Richter and maintain our fair value estimate of HUF 41,193.