March 14 Swiss drugmaker Galenica said
on Tuesday it expects the planned initial public offering of its
Sante pharmacy unit IPO-GALS.S to be completed in the second
quarter of 2017 as it splits itself into two separate units.
The company announced plans to divide the group in December
2015 to develop its Sante unit, including Amavita and Sun Store
pharmacy outlets, and its Vifor Pharma drug unit, which focuses
on iron deficiency treatment, into independent listed companies.
Galenica also said its 2016 full-year net profit after
deduction of minority interests fell 19.1 percent to 243.6
million Swiss francs ($241.50 million), saying its acquisition
of U.S.-based Relypsa last year had a negative impact on the
Galenica bought Relypsa for $1.53 billion to strengthen its
Vifor drugs unit ahead of the company split.
The Swiss maker of Perskindol muscle cream also said it
intends to propose a dividend of 20 francs a share for the years
2017, 2018 and 2019.
($1 = 1.0087 Swiss francs)
(Reporting by Anna Serafin; Editing by Biju Dwarakanath)