Celltrion announced on the 12th its acquisition of Gifrer, a French healthcare specialist with a 114-year history. Through this deal, Celltrion expects to expand its business footprint into Europe’s over-the-counter (OTC) medicine and health functional food markets.
The acquisition will be executed via Celltrion’s French subsidiary, which will secure a 100% equity stake. Both companies plan to complete administrative procedures and finalize the acquisition within this month.
Gifrer operates a robust sales network covering more than 9,000 pharmacies across France and supplies roughly 800 hospitals. Its portfolio includes over 140 OTC medicines and health functional foods. Celltrion noted that Gifrer maintains strong brand recognition, with products such as saline solution and teeth-whitening agents holding the top market share in the region.
Celltrion stated that this acquisition will allow the company to respond proactively to the French government’s policy of expanding "biosimilar substitution dispensing." Under this system, pharmacists can independently select and dispense a medicine with the same active ingredient as the one prescribed by a physician. Following the inclusion of adalimumab (brand name Humira) in the substitution list last year, approvals are expected this year for denosumab (brand names Prolia and Xgeva). Celltrion plans to leverage Gifrer’s extensive pharmacy network to accelerate the local market penetration of its biosimilar lineup.
The move is also expected to drive significant financial growth. Celltrion anticipates approximately KRW 250 billion in additional revenue over the next five years through Gifrer’s existing product lineup. Furthermore, Celltrion plans to use Gifrer’s distribution network as a foothold to introduce cosmetics, health functional foods, and OTC medicines from group affiliates, such as Celltrion Skin Cure. The company also intends to pursue portfolio diversification by securing distribution rights for third-party generics.
“By acquiring Gifrer, we have achieved two objectives at once: securing the ability to respond proactively to changes in the French regulatory system while expanding into new business areas,” a Celltrion official said. “Moving forward, we will actively pursue M&As of competitive companies that can strengthen our direct sales capabilities, tailored to the specific healthcare policies of each country and region.”
