Industry in brief | GNC, Dermapharm, Navamedic

Industry in brief | GNC, Dermapharm, Navamedic

24 May 2021 - Deborah Wilkes

GNC has recruited a chief supply chain officer, while Dermapharm and Navamedic have released financial results.

GNC recruits chief supply chain officer

US-based health, wellness and performance retailer GNC has recruited Alan Chester as chief supply chain officer with effect from 24 May 2021.

Chester joins GNC from retailer Williams-Sonoma where he was senior vice president of international operations and transportation.

Commenting on his new post, Chester said: “GNC is an iconic brand that is pushing the boundaries of the health and wellness space. Through the initiatives we will put in place, its supply chain will have the ability and agility to meet demand and deliver innovative solutions to consumers worldwide.”

Dermapharm’s first-quarter results

German pharmaceutical company Dermapharm reported sales up by 10.2% to EUR212 million (USD259 million) in the first quarter of 2021.

Chief executive officer Hans-Georg Feldmeier said the company had topped its performance in the exceptionally strong first quarter of 2020 when sales had been boosted by stockpiling at the beginning of the COVID-19 pandemic.

Feldmeier said sales in the latest quarter had been boosted by the acquisition in March 2020 of the Allergopharma allergy business from Germany’s Merck KGaA, as well as production of BioNTech’s Comirnaty vaccine for COVID-19.

He also noted there had been higher demand for products to strengthen the immune system such as Dekristol.

Dermapharm's Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) were up by 27.6% to EUR62.8 million in the first quarter of 2021, giving an EBITDA margin of 29.6%.

EBITDA adjusted for one-off costs was up by 28.9% to EUR63.7 million. The adjusted EBITDA margin was 30.0%.

Navamedic’s first-quarter results

Navamedic reported sales of NOK58.6 million (USD7.00 million) in the first quarter of 2021, representing a rise of 5.4% compared to the same period a year earlier.

The Norwegian company said its Consumer Health sales had increased by 45% to NOK11.4 million.

Kathrine Gamborg Andreassen, Navamedic’s chief executive officer, highlighted “rapid growth” of the consumer healthcare products Alflorex and ThermaCare.

Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) were NOK2.55 million.

Navamedic is targeting annual growth of 20% from 2021 and has a mid- to long-term ambition to become a NOK500 million company.

Reiten & Co – a Norwegian private-equity firm – acquired a 26.8% stake in Navamedic in November 2018.

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