Geistlich Pharma posts sales growth in 2021
Wolhusen/Schlieren - Despite the impacts of the coronavirus pandemic, Geistlich Pharma recorded significant sales growth in 2021. The growth drivers in this context were the markets in Asia and Oceania as well as Europe and the Middle East.
According to a press release, Geistlich Pharma AG enjoyed a positive 2021 financial year. Despite the strains on business due to the impacts of the coronavirus pandemic as well as the strong Swiss franc, Geistlich generated growth in the high single-digit area in comparison with 2019, the last pre-pandemic year. Sales growth in the Asia-Oceanic markets was particularly notable, with the press release describing these as “outstanding growth drivers”.
However, Geistlich also recorded dynamic development in Europe and the Middle East. For example, the company continued its growth trajectory with the acquisition of the Italian medtech firm Meta Technologies.
Nevertheless, Geistlich is facing renewed uncertainty owing to current developments, above all the war in Ukraine, the press release explains. Moreover, the strength of the Swiss franc is set to remain a challenge for the company.
“We achieved a significant increase in sales in 2021 compared to the previous year, which was marked by the COVID-19 crisis. Compared to the 2019 financial year, organic growth resulted in the high single-digit range, which was also impacted by currency effects in particular”, comments Jürg Roth, CFO of Geistlich, in the press release.
According to Jürg Roth, the launch of Geistlich Nexo-Gide in the US market and the exclusive distribution partnership for the meniscus implant NUsurface represent partnerships and product developments that will lead to even greater patient proximity and complementary offerings. Last year, patients also postponed personal expenses such as travel in favor of dental procedures and therapies.
Geistlich Pharma is headquartered in the canton of Lucerne and forms part of Geistlich Holding, which is based in Schlieren in the canton of Zurich.
