Gedeon Richter announced that it entered into a licence and distribution agreement with Bayer HealthCare to commercialize a transdermal contraceptive patch of Bayer in the European Union, in other European countries and in some countries in Latin America. Under the terms of the agreement, Richter will make an upfront payment when the contract is signed and further milestone payments linked to the progress of the commercialization. Royalties will become payable to Bayer after the product launch.