Redcare Pharmacy : Galenica deal to support earnings, Neutral with new TP of € 104
>Strong Q2 sales, Q2 earnings to be released on 1 August - Early July, Redcare Pharmacy formerly known as Shop Apotheke pre-released good Q2 sales numbers. In Q2 2023, sales increased 47% y-o-y to € 421m. Excluding Galenica (which is consolidated from mid-May on), sales rose 26% y-o-y to € 361m. Back then, this exceeded expectations although there was only thin consensus. The Non-Rx business grew 27%, while Rx sales increased 13% ex Galenica. Overall, Q2 2023 was a s...Shop Apotheke Europe NV is a company based in the Netherlands that retails pharmaceutical products online. The Company focuses on non-prescription medication (OTC), as well as on pharmacy-related beauty and personal care (BPC) products. The Company is active in Belgium, Spain, Italy, France, Austria, the Netherlands and Germany.
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