EU Business Round-Up: Galenica Acquires Spagyros, Karo Offloads OTCs, And Ceres Gets New Owners
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.
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Consumer health player Ceres will grow its European dietary supplements offering with the acquisitions of Belgium's Labophar and Romania's Dacia Plant.
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 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.