DGAP-News

PharmaSGP successfully holds first AGM after IPO

DGAP-News: PharmaSGP Holding SE / Key word(s): AGM/EGM PharmaSGP successfully holds first AGM after IPO 25.06.2021 / 11:38 The issuer is solely responsible for the content of this announcement. PharmaSGP successfully holds first AGM after IPO   2021 Ordinary AGM held virtually due to the pandemic 87.3 % of the share capital was represented All agenda items approved with clear majorities Management Board reports on growth prospects based on PharmaSGP platform Gräfelfing, 25 June 2021 - PharmaSGP Holding SE has successfully held its 2021 Ordinary Annual General Meeting yesterday. Due to general restrictions relating to the Covid-19 pandemic, the Annual General Meeting was held virtually. The presence of the represented share capital amounted to around 87.3 %. All agenda items were approved with clear majorities.

At the Annual General Meeting, the Management Board reported in detail on revenue and earnings development in the 2020 fiscal year. Despite the negative impact of the Covid-19 pandemic on PharmaSGP's target markets, revenues in the "Health Brands" category were up by 11.8 % to EUR 54.8 million (previous year: EUR 49.0 million), thereby outperforming the overall market.

PharmaSGP reached a milestone on its targeted growth path with the acquisition of a product portfolio from the GlaxoSmithKline Group, a deal that was signed last week. The focus of the portfolio, which consists of four established OTC brands in eight countries, is on the herbal medicine products of the Baldriparan^(R) brand, which in German pharmacies is the leading OTC brand for natural valerian sleeping aids. In addition, PharmaSGP GmbH acquired Formigran^(R), Spalt^(R) and Kamol^(R), three further well-known OTC brands in the strategically important "pain therapy" category. In 2020, the brand portfolio generated more than EUR 15 million in revenues in Germany, Austria, Switzerland, France, Hungary, Poland, the Czech Republic and Slovakia. The purchase strengthens PharmaSGP's "Health Brand" category, opens up new indication areas, and also expands PharmaSGP's number of sales markets. The acquired products will now be integrated into the PharmaSGP Group's pan-European platform, which will enable numerous synergy effects to be leveraged in the future.