Annual report 2018

20 | Galenica annual report 2018 Dynamic developments Net sales development Despite challenging market conditions, the Products & Brands Business sector, mainly comprising the business activities of Verfora, achieved net sales totalling CHF 91.7 million (+2.7%) in 2018. Due in part to the strong flu and hay fever season in the first half of 2018 and supply constraints of other products in the market, Algifor ® and Triofan ® performed very well. Consequently, Products & Brands exceeded consumer healthcare market growth (1.2%, IQVIA, Consumer Health Market Switzerland 2018), increasing its net sales in Switzer- land by 3.8% to CHF 73.7 million. Thus, and for the first time, Verfora became the number one company in the total Swiss consumer healthcare market by the third quarter of 2018 (IQVIA, Consumer Health Market Switzerland 2018). Export sales declined by 1.6% to CHF 18.0 million, due in particular to the additional sales generated in 2017 by the launch of Anti-Brumm Sun ® in Germany and Austria. Verfora: new name, same strategy With the division of the former Galenica Group in 2017, Galenica and Vifor Pharma agreed that Vifor Consumer Health would change its name to clearly signal its indepen- dence to the market. The company was therefore rebranded Verfora as of 1 June 2018. With the new identity, Verfora positions itself distinctively as a strong specialist trade partner for pharmacies and drugstores with its well-known brands and products. The introduction of the new packaging with the Verfora branding proceeded as planned and was supported by a national TV campaign starting in November 2018. Verfora remains a strong partner for all pharmacies and drugstores, standing for an attractive product portfolio and dedication to training and customer support. Strategic priorities – Sustain leadership of the top OTC categories, with focus on pain, coughs, rhinitis, colds, minerals and supplements, and wound treatment. – Consolidate and further grow share of the consumer healthcare market in pharmacies and drugstores throughout Switzerland, building on the solid partnerships and added- value services offered by Verfora. – Expand the branded business into new areas and develop related skills. Products & Brands Business sector Galenica Products & Brands