Celltrion has successfully acquired the French healthcare company Gifrer, securing a massive local distribution network. This strategic move is designed to capture leadership in the European market as “pharmacy-level substitution”--the practice where pharmacists swap branded biologics for biosimilars--expands across the continent.
According to Celltrion's announcement on May 12, the company acquired a 100% stake in Gifrer through its French subsidiary. While the acquisition price remains undisclosed by mutual agreement, both parties expect to finalize administrative procedures and operational alignment within this month.
Founded in 1912, Gifrer is a venerable healthcare player with a network of over 9,000 pharmacies and 800 hospitals across France. Its portfolio includes over 140 products, ranging from over-the-counter (OTC) medications and medical devices to health supplements. Notably, it holds a dominant 42% market share in the French saline solution market and maintains strong consumer loyalty in dental whitening and infant care products.
This acquisition is a preemptive strike in response to French healthcare policy. Since 2022, France has allowed pharmacists to substitute certain prescribed medications with biosimilars. Last year, the policy expanded to include Adalimumab (the biologic behind Humira), shifting the competitive landscape from hospital bidding to the pharmacy counter. By absorbing Gifrer's sales force, Celltrion gains the direct influence needed to ensure its products are selected at the point of sale.
The deal marks a significant evolution in Celltrion's European strategy, shifting from a hospital-centric direct sales model to a comprehensive pharmacy distribution platform. With the addition of Gifrer's 140+ products, Celltrion is diversifying its business beyond biosimilars into generic drugs and consumer healthcare. The company projects that this expanded portfolio will generate approximately 250 billion KRW ($180-190 million USD) in additional revenue over the next five years.
Looking forward, Celltrion plans to leverage its existing direct sales networks in Germany and other major European markets (EU5) to cross-sell Gifrer's top-performing products. The company is also in the final stages of reviewing third-party generic and OTC licensing deals to be funneled through this new 9,000-strong pharmacy network. Furthermore, Celltrion Group is exploring ways to introduce its own line of cosmetics and health supplements to French consumers via this established channel.
“As pharmacy-level substitution becomes the new standard in France, acquiring a brand with high local recognition and an established sales force allows us to lead this regulatory shift,” a Celltrion official stated. “We will continue to aggressively seek acquisitions of European firms that create synergy with our direct sales capabilities.”
