Pharma – Galenica did better than expected in 2020

The Bernese group specializing in medicines and operator of pharmacies recorded net sales up 5.4% over one year.

Galenica is confident of achieving adjusted operating profit in 2021.

Keystone

Drug wholesaler and pharmacy operator Galenica exceeded expectations, posting net sales up 5.4% year-on-year to CHF 3.5 billion.

The Bernese group slightly exceeded the forecast turnover announced by + 2% to + 5%, according to the press release released on Thursday. The recipes go beyond the AWP consensus.

The Services division saw its revenues climb by 8% to 2.6 billion francs, “due to the extraordinarily high volumes in the spring due to Covid-19” and “also thanks to the market shares gained in the wholesale trade”.

Galenica is confident

The Retail activity was affected by the containment but the turnover was able to be increased by 2.7%, while that of Products & Brands grew by + 9.4% due to new distribution agreements and the successful expansion of the product portfolio.

Galenica is confident of achieving in 2021 an adjusted operating result (EBIT excluding IFRS 16 and IAS 19 effects) at the level of the previous year, as already announced. The proposed dividend (1.80 francs per share) should also be maintained at the general meeting.

ATS

Posted today at 07:21

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