Celltrion plans to make France a hub for its European pharmacy business by combining Gifrer’s pharmacy sales network with its own direct-sales capabilities for biopharmaceuticals.
According to Celltrion on Aug. 18, Chairman Seo Jung-jin recently visited the French subsidiary and Gifrer to personally review organizational operations, the pharmacy sales network, product portfolio and sales coordination between the two companies.
Since acquiring Gifrer, Celltrion has worked to establish a collaboration system between the two organizations, optimize staffing and refine sales strategies by product. The company said it has now completed the necessary integration work and is ready to move beyond stabilizing Gifrer’s existing operations and begin generating synergies with Celltrion’s products.
Gifrer has a supply network covering more than 9,000 pharmacies and more than 800 hospitals across France, along with a portfolio of more than 140 products, including over-the-counter drugs, pharmacy medicines and health supplements.
Celltrion has expanded its direct-sales network in Europe primarily among hospitals, health care professionals and tender agencies, but its direct access to pharmacies has been relatively limited. The company said the Gifrer acquisition gives it access to a sales network spanning hospital prescriptions, pharmacy dispensing and administration, and repeat purchases.
Celltrion expects particularly strong synergies between its pharmacy network and subcutaneous (SC) biopharmaceutical products that patients administer themselves. In France, pharmacy substitution of certain biopharmaceuticals has been permitted since 2022, with the range of products covered continuing to expand.
Celltrion plans to initially pursue direct sales of Stoboclo-Osenvelt (denosumab), a treatment for bone disorders, through French pharmacies in line with local regulatory and substitution schedules.
The company also plans to expand Gifrer’s portfolio to improve its sales productivity rather than relying solely on sales of Celltrion products. It is considering licensing in and launching third-party biosimilars, generic drugs and health care products that do not directly compete with Celltrion.
Celltrion Skincure’s dermocosmetics brand Zipiderm is also scheduled to launch in French pharmacies early next year. Gifrer will handle local sales and distribution, while Celltrion’s French subsidiary will leverage its network of health care professionals to expand the product portfolio.
After validating the performance and profitability of its direct-to-pharmacy model in France, Celltrion plans to gradually expand the business into other European countries, taking into account each market’s pharmaceutical distribution structure and biosimilar substitution policies.
A Celltrion official said, “We have completed the necessary integration work following the acquisition of Gifrer and are ready for a new phase of growth together with Celltrion,” adding, “We will focus on generating tangible results by combining Gifrer’s pharmacy network with the competitiveness of Celltrion’s products.”
Meanwhile, Celltrion reported record first-half results, with consolidated revenue of $1.69 billion and operating profit of $515.8 million. Revenue increased 40.8% from the same period a year earlier, while operating profit rose 97.4%. High-margin newer products, including Remsima SC, accounted for about 65% of total revenue and drove earnings growth.
Celltrion plans to maintain its growth momentum in the second half by supplying large-scale tender orders in major European markets and responding to year-end inventory-building demand. The company will refine sales strategies according to market conditions in each region while managing supply and sales performance together to strengthen its global direct-sales capabilities.