Galenica confident of meeting annual targets after strong half-year

Galenica continued to grow in the first six months of the year. The healthcare company now believes it is well on track to achieve its targets for the year. An expected upturn in the second half of the year should contribute to this. In a press release issued on Tuesday, Galenica reported sales of CHF1.9 billion ($2.2 billion), an increase of 2.6%. The Logistics & IT business sector contributed nearly CHF1.6 billion (3.0%). The Products & Care business sector increased its revenue by 3.1% to CHF829 million. While sales had increased by just under 5% in the first four months of the year, growth slowed considerably in May and especially June 2024. The press release explained that cool and rainy weather in early summer led to low demand for seasonal products such as sunscreens, outdoor, and allergy products. +What’s behind Switzerland’s push for drug-pricing secrecy? At the profit level, the growth in EBIT was more significant, with an increase of 9.9% to CHF99.1 million. Overall, the ...