Weifa to enter Finland through Fysioline deal
Πέμπτη 09 Ιούν 2016
Norway's Weifa is set to enter the Finnish market through a deal with local company Fysioline Group.

Weifa said the five-year distribution agreement with Fysioline covered "several of Weifa's most recently launched products within the pain category". The first of these "unique pain products" would be launched towards the end of 2016, added the Norwegian company.

Fysioline will distribute the products in Finland on an exclusive basis under Weifa's brand names.

Kathrine Gamborg Andreassen, Weifa's chief executive officer, described the deal as an "important first step in building a Nordic platform" for Weifa's established brands.

She said the first two products represented a combined annual peak-sales potential – three to five years from launch – for Weifa in the "high single-digit million NOK range".

Weifa noted that the deal could be extended to include additional products.

Weifa's pain-relief portfolio is led by the Paracet (paracetamol) and Ibux (ibuprofen) brands. It also includes Fanalgin (phenazone and caffeine), Paracetduo (paracetamol and caffeine), and Proxan (naproxen).

The company also markets Bronkyl cough remedies as well as Pyrisept wound-cleansing products.

Seeking partnerships and acquisitions

At the beginning of June 2015, Weifa split off its contract manufacturing business to focus on consumer health. At the time, the company said it wanted to expand its business in the Nordic region through different types of partnerships and acquisitions.

In January 2016, Weifa acquired the Asan and Sana shower and intimate-care brands from fellow Norwegian company Orkla in a deal worth NOK115 million (US$14.2 million).

The deal gave Weifa the Asan brand in Norway and Sana in Sweden. The brands offer a range of intimate-care products for women and men in the form of soap, body washes, shower creams and wet wipes.

Reporting its results for the first quarter of 2016, Weifa said sales had risen by 10% to NOK96.2 million. Growth had been driven by the addition of Asan in January 2016, said the company.

Weifa describes itself as "Norway's leading consumer health company". The vast majority of sales are generated in Weifa's home market of Norway.

Adjusted Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) were NOK21.9 million in the first quarter of 2016, giving an adjusted EBITDA margin of 22.8%.

Weifa said Fysioline was currently expanding its pharmaceutical division. The health and wellness company markets a number of pain-relief products in Finnish pharmacies, including Ice Power.

Πηγή:  OTC Tool Box

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