Geistlich Pharma AG records higher turnover despite strong franc
Geistlich Pharma AG can look back on a successful, but challenging 2015. The Swiss family business had to deal with the abolition of the Swiss franc’s minimum euro exchange rate at the start of the financial year along with a tougher business environment. Since its manufacturing operations are based in Switzerland, this had a direct impact on Geistlich Pharma’s products. Even so the company fared very well in the marketplace, enjoying mid single-digit growth in local currency sales. A significant contribution to this was made once again by the Dental division and its world-leading regenerative dentistry products. Here the rate of growth in terms of the number of products sold (units) was in the high single-digit region. However the Medical division also showed pleasing progress in the number of products sold and strong growth in infection control thanks to its Taurolin and Geistlich TauroSept© products. The Orthopaedic division suffered most from the currency situation and, in line with the reporting currency, posted a slight decline. However, all in all Geistlich Pharma is very satisfied with these results.
Rapid growth in China
In terms of its markets, the Swiss family business enjoyed particularly strong growth in the Asia Pacific region and North America. Favourable economic market conditions played their part, with demand for Geistlich Pharma products correspondingly large. The figures were gratifying in Australia too, where Geistlich Pharma set up its subsidiary in 2015. Geistlich Pharma faced a range of market conditions in Europe, from stagnating markets to growing ones, with the company operating successfully here too by expanding its customer base. In addition to having an attractive product pipeline, a balanced geographical mix is also crucial to Geistlich AG’s continuing growth. With this in mind, 2015 saw the foundations being laid in India for the company’s tenth subsidiary. In research and development Geistlich pushed ahead with important projects in the development of regenerative collagen and bone substitutes, allowing the achievement of important milestones on the way to new product registration.
Flexibility as the basis for success
Geistlich is proud of its corporate history stretching back some 160 years. Its ability to continually rise to the challenges in the sector comes from a prudent corporate strategy based on sustainability and quality, but also from the flexibility and versatility that are always demonstrated by Geistlich Pharma’s workforce. The company is extremely grateful to its employees for this. Geistlich AG is assuming that 2016 will continue to present a difficult market environment, but the company is well positioned and looks forward to pursuing its objectives and tackling the challenges ahead.