CHF 3,791.6 million
CHF 537.4 million
CHF 450.8 million
CHF 370.0 million
7,804 (6,421 full-time equivalents)
In December, the Board of Directors of Galenica concluded that the preconditions had been met for dividing the Group in the fourth quarter of 2016, provided the economic environment remains stable.
profit growth before deduction of minority interests
Vifor Pharma expanded successfully in the iron replacement product segment and, at the same time, was able to conclude an exclusive licensing agreement with Roche for the commercialisation of the drug Mircera® in the USA and Puerto Rico, as well as an exclusive partnership between Vifor Fresenius Medical Care Renal Pharma (VFMCRP) and the US company Relypsa to commercialise the potassium binder Patiromer FOS in all markets outside the USA and Japan.
Galenica Santé also performed very well, especially in a market environment that came under heavy pressure from the euro exchange rate and consumer tourism. In July, the newly created company Vifor Consumer Health was transferred to Galenica Santé, complementing the portfolio perfectly thanks to its strong brands. In addition, the organisational structure was adapted with a view to the planned independence.
In 2015, the Galenica Group realised consolidated net sales of CHF 3,791.6 million (+11.0 %). Consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by 20.3 % to CHF 537.4 million, earnings before interest and taxes (EBIT) by 21.8 % to CHF 450.8 million, and net profit increased by 18.6 % to CHF 370.0 million before deduction of minority interests, and by 5.8 % to CHF 301.1 million after deduction of minority interests.
Excluding the negative effects due to IAS 19, EBITDA was up by 22.3 %, EBIT by 24.2 %, net profit before deduction of minority interests by 21.1 % and net profit after deduction of minority interests by 8.6 %. The one-time effects reduced 2015 EBITDA and EBIT by CHF 9.0 million and net profit before and after deduction of minority interests by CHF 7.8 million. They only impacted the consolidated earnings of the Group, and not the earnings of the Business sectors.
Galenica continued to invest in research and development, with CHF 88.8 million (previous year: CHF 104.2 million) for projects including clinical studies with Ferinject®. Investments in property, plant and equipment and intangible assets totalled CHF 368.6 million (previous year: CHF 70.0 million). This also includes upfront and future milestone payments from licensing agreements, for example with Roche (Mircera®) and Relypsa (Patiromer FOS).
Preparatory work for the necessary decisions regarding the planned division of the Galenica Group in the fourth quarter of 2016 was begun and is proceeding as scheduled.
Vifor Pharma is to focus on the further successful expansion of the leading iron product Ferinject®/Injectafer®, supported by launches in additional countries. VFMCRP intends to further consolidate its position in nephrology with a focus on further launches of Velphoro® and the prelaunch activities of Patiromer FOS.
Galenica Santé intends to expand the existing product range and launch new products via the new Products & Brands Business sector. In Retail, the focus is on an even more efficient organisation and leaner business processes. The Services segment will bring the expanded Niederbipp distribution centre into commission and further consolidate and extend its market position with highquality services and innovative offerings.