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Galenica on track with sales growth

Ad hoc announcement pursuant to Art. 53 LR, Thursday, 23 May 2024

The Galenica Group made a good start to the new year with sales growth of 4.8% to CHF 1,255.5 million in the first four months of 2024. All Service Units performed well and contributed to the good sales performance. 

The sales growth is based on a positive development of the pharmaceutical market with growth of 4.0% (IQVIA, Pharmaceutical Market Switzerland, YTD April 2024). Compared to the prior-year period, the first four months of 2024 included an additional day of sales, with an estimated positive impact of around 1% on sales growth. Significantly increased sales of generics and biosimilars dampened growth. This development was driven by the measures for the promotion of generics and biosimilars that entered into force on 1 January 2024, including an increase in the deductible if patients prefer a more expensive original medicine. Galenica pharmacies increased the generic substitution rate from 75.2% at the end of 2023 to 80.5% in the first four months of 2024, thus making a significant contribution to curbing rising healthcare costs.

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• Sales of the Galenica Group January–April 2024