Boiron: 145 additional job cuts

(CercleFinance.com) - Boiron announced last night that it would be stepping up its reorganization with the elimination of a further 145 positions in the wake of the delisting of homeopathic medicines in France.


The laboratory said on Thursday that it had submitted to employee representatives a plan to reorganize its 'non-proprietary homeopathy' (HNC) business in France.

This term refers to medicines in the form of tubes and doses, which until 2020 were mainly prescribed by doctors and reimbursed by the Assurance Maladie.

With the delisting of homeopathy in France, their sales have been divided by three in five years, equivalent to a drop of over 100 million euros in terms of sales, says the group.

In its press release, Boiron points out that the government's decision had already led to the departure of over 500 people by 2021.

Its new reorganization plan calls for the closure of four distribution sites in Clermont-Ferrand, Dijon, Reims and
Sophia-Antipolis, resulting in the loss of 73 positions.

The Bordeaux, Marseille, Nancy, Nantes, Rennes, Toulouse and Tours sites will also be affected, with 40 job cuts, in addition to 32 in the medical sales department.

Following these announcements, Boiron's share price lost 3.7% on Thursday morning on the Paris Bourse, bringing its decline since the start of the year to 29%.

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