Richter is transformed under the leadership of Erik Bogsch.
Erik Bogsch, the new CEO appointed on 1 November 1992, wanted to rehabilitate Richter, then heavily indebted, without state aid, on his own. The new strategy demanded the enhancement of traditional innovation, more economical operations, and the increase of efficiency in general. This was conditional on the successful integration into the market economy, which required a fundamental change of approach, as well as the restructuring of the company. The basic tenets were export orientation, while maintaining and increasing its position in the domestic market, high quality in terms of both APIs and finished dosage products, and the importantce of proprietary research and development. According to the new strategy, Richter must be a marketing-oriented organisation based on strong research and development activities in the long run.