Celltrion announced on Tuesday its strategic acquisition of French healthcare company Gifrer, marking a significant step in the Korean biopharmaceutical firm’s expansion within the European market. This move broadens Celltrion’s business scope to include a robust portfolio of generics and over-the-counter (OTC) products across the continent.
Gifrer possesses an extensive distribution network in France, operating through more than 9,000 pharmacy sales channels and supply networks serving approximately 800 hospitals. Its diverse product range includes over 140 established OTC medicines, health supplements, and consumer healthcare products. These include market-leading saline solutions, popular teeth-whitening products, and essential infant care items, all enjoying strong local market positions.
Celltrion emphasized that this acquisition will significantly strengthen its pharmacy sales network in France. This strategic positioning is crucial as the country prepares for the expansion of its substitute dispensing policy, which will allow pharmacists greater autonomy in choosing and dispensing medicines containing the same active ingredients as prescribed drugs.
France is anticipated to approve substitute dispensing for key denosumab-based treatments, such as Prolia and Xgeva, later this year. Celltrion plans to strategically leverage Gifrer’s well-established pharmacy network to accelerate the sales of its own biosimilars, Stoboclo and Osenvelt, in this evolving market.
The deal also underscores Celltrion’s broader strategic push into the lucrative consumer health care and generics sectors. Gifrer’s saline solution products currently hold the top position in France with an impressive 42 percent market share, while its teeth-whitening products maintain a substantial 28 percent share, demonstrating strong brand presence and market leadership.
Celltrion projects that Gifrer’s comprehensive product portfolio will generate an additional revenue exceeding 250 billion won (approximately $168.4 million) for the company over the next five years, highlighting the substantial financial potential of the acquisition.
Furthermore, Celltrion is actively exploring opportunities to expand Gifrer’s product reach into other key European markets through Celltrion’s existing direct sales subsidiaries. For instance, Celltrion’s local unit in Germany already manages pharmacy sales for subcutaneous formulation products and anticipates significant portfolio diversification with the integration of Gifrer’s offerings.
“By acquiring Gifrer, we have secured both the capability to proactively adapt to evolving policy changes and valuable opportunities to expand into new business areas,” a Celltrion official stated. “We will continue to actively pursue merger and acquisition (M&A) opportunities with competitive companies that can enhance our direct sales capabilities, always tailored to the specific healthcare policies of each country.”
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