Galenica expands into French speaking Switzerland
The Berne-based pharmaceutical group, Galenica, is to expand its activities in the French speaking part of Switzerland. The company has bought an 80 per cent stake in the pharmacy store chain, Victoria.
The Victoria group, based in Geneva, owns 11 pharmacies in French speaking Switzerland, employing a total of 180 staff.
Galenica will close two of Victoria’s five administrative offices with the current board of Victoria continuing to work until the end of 2002.
No figures were released on the cost of the deal.
Galenica was founded in 1927 and is the largest pharmaceutical wholesaler in Switzerland. As well as domestic subsidiaries it also has divisions in France, Germany and the UK.
In 1999, 80 per cent of Galenica’s revenue came from the distribution of pharmaceutical products, with 14 per cent spent on agencies and marketing, and six per cent on the development, manufacture and marketing of pharmaceuticals.
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