Galenica reported its FY17 trading update ahead of our estimates but below market consensus. Although the segmental revenue came in line with our expectations, the consolidated top-line growth was 70bp ahead of our estimates, led by lower than expected intercompany sales. Galenica, being an industry leader, has limited growth options, and thus its strategy to diversify from a traditional drug distributor to a service provider makes perfect sense. We have revised our estimates slightly upwards
02 Feb 2018
Robust growth fuelled by Pharmapool acquisition
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Robust growth fuelled by Pharmapool acquisition
Galenica AG (0ROG:LON) | 0 0 0.0% | Mkt Cap: 2,446m
- Published:
02 Feb 2018 -
Author:
Ankush Kathuria -
Pages:
3
Galenica reported its FY17 trading update ahead of our estimates but below market consensus. Although the segmental revenue came in line with our expectations, the consolidated top-line growth was 70bp ahead of our estimates, led by lower than expected intercompany sales. Galenica, being an industry leader, has limited growth options, and thus its strategy to diversify from a traditional drug distributor to a service provider makes perfect sense. We have revised our estimates slightly upwards