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BUZZ-Galenica falls on plans to shut down unit's pharma production

Reuters
Feb 24
BUZZ-Galenica falls on plans to shut down unit's pharma production

** Galenica GALE.S falls ~7% to 94.6 Swiss francs, a more than six-week low; set for worst day since June 2022

** Stock falls to bottom of Switzerland's mid-cap index .SMIM

** Healthcare company's subsidiary Bichsel intends to discontinue pharmaceutical production by year end

** Co says consultation process initiated; adds up to 170 jobs will be affected

** Expects one-off special costs of 35 mln-40 mln Swiss francs ($45.23 mln-$51.69 mln) in H1 FY26

** YTD, GALE down 2.7%

($1 = 0.7738 Swiss francs)

(Reporting by Ozan Ergenay)

((ozan.ergenay@thomsonreuters.com))

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