Galenica, a Swiss pharmaceutical and logistics company, has announced that it experienced growth in its full-year sales across all segments, leading the company to confirm its earnings outlook for 2023.

Strong Sales Performance

In 2023, Galenica's full-year sales increased by 4.4% to reach 3.75 billion Swiss francs ($4.34 billion). This growth can be attributed to the positive development of the pharmaceutical market, driven by increased sales of high-priced medications.

Slower Growth in the Second Half

Although Galenica's sales growth slightly slowed in the second half of 2023, with a rate of 3.3%, it is important to note that the first half of the year saw a growth rate of 5.5%. The decline in growth during the second half was mainly due to the seasonal flu epidemic and coronavirus infections that occurred in the same period of the previous year (2022).

Confirmed Outlook for 2023

Galenica has affirmed its outlook for 2023, maintaining its expected earnings before interest and taxes at CHF200.8 million, which is roughly the same as the previous year. Additionally, the company anticipates a dividend for 2023 that is at least at the same level as the previous year.

Upcoming Results

Investors and stakeholders can expect the full-year 2023 results to be released on March 12, according to Galenica.

Centamin Reports Increase in Revenue and Production

Bond Yields Decline as Focus Shifts to Expected Fed Rate Cuts

Leave A Reply

Your email address will not be published. Required fields are marked *

Related posts

Brunello Cucinelli Anticipates Good Profit as 2023 Revenue Increases
News

Brunello Cucinelli Anticipates Good Profit as 2023 Revenue Increases

Brunello Cucinelli reports a 24% increase in 2023 revenue and expects a favorable profit. Europe contributes the most to...

Medicare Advantage: Enhancing Security and Efficiency
News

Medicare Advantage: Enhancing Security and Efficiency

Millions of Americans rely on Medicare Advantage for essential benefits. Lawmakers and insurance companies work to enhan...

Barclays Delays Prediction for Fed Rate Hike to January
News

Barclays Delays Prediction for Fed Rate Hike to January

Barclays economists have revised their forecast for a Federal Reserve rate hike to January based on disappointing job nu...

Stocks Surge in Toronto as Earnings Season Approaches
News

Stocks Surge in Toronto as Earnings Season Approaches

Canadian stocks rise in anticipation of earnings season, with gains seen in technology and finance sectors. Manufacturin...