Verfora continues to expand its complementary medicine portfolio
The Galenica subsidiary Verfora will acquire 100% of Padma Ltd. at the end of January. Padma specialises in the manufacture and distribution of herbal formulations derived from Tibetan medicine. With the acquisition, Verfora is expanding its complementary medicine portfolio and expanding its range of reimbursable medicines.
Padma Ltd. has been a manufacturer of herbal formulations from Tibetan medicine since 1969 and has its own production facility in Wetzikon (ZH), where the company’s headquarters are also located. The Tibetan constitutional teachings include behavioural tips for a healthy lifestyle and recommend the use of carefully compounded natural herbal formulations for specific conditions. The main products are Padma 28N and Padmed Circosan N, which are the market leaders in Switzerland for the treatment of mild circulatory disorders. Whereas Padma 28N is freely available on the market as an OTC preparation, Padmed Circosan N is on the speciality list and can be billed through health insurance funds if prescribed by doctors. Other products include Padma Digestin Plus for balanced digestion and Padma Nervoben, which supports the normal functioning of the nervous system.
Ideal addition to the product portfolio with further growth potential
The acquisition is an ideal addition to Verfora’s complementary medicine product range. In addition, the Padma 28 N and Padmed Circosan N products will give Verfora a market-leading position in the treatment of mild circulatory disorders, an indication that Verfora has not previously covered.
Thanks to the Verfora medical field sales force, the potential of Padma products can be exploited even better in the future.
Padma Ltd. will be managed at Galenica as an independent Business Unit in the Products & Marketing area. All 39 employees at the headquarters in Wetzikon will be taken on. Total market sales at retail prices in Switzerland of around CHF 10 million account for around 70% of Padma Ltd.’s total sales. The most important export markets are Germany and Austria.
Both parties have agreed not to disclose the purchase price.
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Ad hoc announcement pursuant to Art. 53 LR, Wednesday, 18 January 2023
Ad hoc announcement pursuant to Art. 53 LR, Wednesday, 18 January 2023