Celltrion said Tuesday it acquired French health care company Gifrer as the Korean biopharmaceutical firm expands its European business to include generics and over-the-counter products.
Gifrer operates more than 9,000 pharmacy sales channels and supply networks covering about 800 hospitals across France. The company sells over 140 OTC medicines, health supplements and consumer health care products, including saline solutions, teeth-whitening products, and infant care items with strong local market positions.
Celltrion said the acquisition strengthens its pharmacy sales network in France ahead of the country’s expanding substitute dispensing policy, which allows pharmacists to independently choose and dispense medicines containing the same active ingredients as prescribed drugs.
France is expected to approve substitute dispensing this year for denosumab-based treatments such as Prolia and Xgeva. Celltrion said it plans to leverage Gifrer’s pharmacy network to accelerate sales of its biosimilars Stoboclo and Osenvelt.
The deal also marks Celltrion’s broader push into consumer health care and generics. Gifrer’s saline solution products currently rank first in France with a 42 percent market share, while its teeth-whitening products hold a 28 percent share.
Celltrion expects Gifrer’s product portfolio to generate more than 250 billion won ($168.4 million) in additional revenue over the next five years.
The company is also considering expanding Gifrer products into other European markets through Celltrion’s direct sales subsidiaries. In Germany, Celltrion’s local unit already conducts pharmacy sales for subcutaneous formulation products and expects further portfolio expansion if Gifrer products are added.
“By acquiring Gifrer, we have secured both the ability to proactively respond to policy changes and opportunities to expand into new business areas,” a Celltrion official said. “We will continue pursuing M&A opportunities with competitive companies that can strengthen our direct sales capabilities tailored to each country’s health care policies.”
By Jeon Ji-woo (jwjeon7625@heraldcorp.com)
