GALENICA BOOSTS SALES AND PROFITS

The Swiss Galenica group, initially established as a pharmaceutical wholesaler but now involved in drug production, has completed its first major industrial reorganization and, on a comparable basis, has reported a 9% rise in 1991 sales.

The group has also closed its 1991 accounts with a 123.5% rise in profits, though this increase reflects against the background of a weak performance by the company in 1990. Galenica's industrial restructuring is seen as having contributed to the poor 1990 figures, as heavy investment in the basic pharmaceutical distribution sector put the finances of the group under pressure.

Group sales in the drug distribution area went up 9.3% in 1991 to 922 million Swiss francs ($656.2 million), while group profits overall (including industrial and other business results) increased from 10.7 million francs to 23.9 million francs.