Planned division of the Galenica Group
Thursday, 19 January 2017
Galenica is pressing ahead with the planned division; the focus is on an IPO of the Galenica Santé Business unit
The preparations for the division of the Galenica Group planned for 2017 are on track. The performances in recent months and the agreements concluded in 2016 have further strengthened Vifor Pharma and Galenica Santé. Both Business units are therefore prepared to successfully grow further in the future as independent companies.
Within the framework of examining different variants as to how the division of the Galenica Group could take place, the focus of the current preparatory work is on the flotation of Galenica Santé by means of an initial public offering (IPO). Galenica anticipates that the divi-sion will be completed by no later than the end of 2017, subject to the economic environment remaining stable.
In October 2016, the Board of Directors of the Galenica Group announced the first personnel-related management appointments: Stefan Schulze has been designated Chief Operating Officer (COO) and President of the Executive Committee of Vifor Pharma and will assume this role with effect from the Annual General Meeting of Galenica Ltd. in May 2017. Etienne Jornod will continue to lead Vifor Pharma as Executive Chairman after the planned division of the Galenica Group.
The Board of Directors of the Galenica Group has now also taken initial personnel decisions at Galenica Santé. Jörg Kneubühler, current CEO of Galenica Santé, has been designated future Chairman of the Board of Directors of Galenica Santé, and Jean-Claude Clémençon, current Head Retail Business sector, as its future CEO. The change of management will come into effect following the planned IPO of Galenica Santé.
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