Boiron Partners With Galenica's Verfora In Switzerland
France's Boiron has granted Galenica's Verfora the rights to distribute in Switzerland its portfolio of over 800 products as it looks to turnaround its business and make cost savings following the collapse of homeopathy sales in its home market.
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France's Boiron has acquired cosmetics player ABBI, which uses artificial intelligence to offer consumers personalized beauty products. The move comes as Boiron reported 2021 sales down double-digits as homeopathy sales in its home market continue to decline.
Galenica's Swiss consumer health business Verfora saw sales jump by a fifth in 2021 thanks to key acquisitions. Without the impact of these deals, Verfora's sales over the 12 months would have declined due to the negative impact of the pandemic on its business.
The latest European business news: Galenica strengthens its porfolio in Switzerland with Spagyros; Sweden's Karo offloads OTCs to Evolan; and Ceres Pharma sold to French private-equity firm.