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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Switerland's Galenica has bolstered its OTC offering by acquiring local player Padma and its portfolio of OTCs and supplements inspired by Tibetan medicine.
Galenica's Verfora substantially outpaced the 6.4% growth rate of the Swiss consumer health market in the first half, posting sales up by a third thanks to a combination of acquisitions and increased demand for cold & flu products due to the spread of the COVID-19 Omicron variant.
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.