Green light for Switzerland’s leading online pharmacy

Ad hoc announcement pursuant to Art. 53 LR
Thursday, 11 May 2023

Competition authorities in Switzerland and Austria have approved the planned joint venture between Galenica Ltd. and Shop Apotheke Europe N.V. This clears the way for the formation of Switzerland’s leading online pharmacy. The transaction establishing the joint venture will be completed on 16 May 2023.

At the end of March 2023, Galenica and Shop Apotheke Europe announced they were to combine the business activities of the specialty pharmacy Mediservice Ltd. and the online pharmacy into a joint venture as part of a strategic partnership. The planned joint venture had, up until now, been subject to approval by the competition authorities.

Mediservice and complement each other ideally. Mediservice is the leading specialty pharmacy in Switzerland with a focus on the mail-order of prescription drugs (Rx) and the care of chronically ill patients at home.
Shop Apotheke Europe is the leading e-pharmacy in Europe and operates a rapidly growing digital health platform in Switzerland with With this joint venture, customers of and Mediservice as well as new costumers will benefit from the new e pharmacy's extensive and combined offerings, which will include health and beauty products as well as prescription drugs and health services.

Through this transaction, Mediservice Ltd. will take over the business activities of and form the joint venture company. For this purpose, Galenica sells 51% of the shares of Mediservice Ltd. to Shop Apotheke Europe and also makes a cash payment of EUR 29 million. In return, Galenica will receive an 8% stake in Shop Apotheke Europe as part of a capital increase.

Further information on the partnership: Press release dated 30 March 2023

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