Givaudan To Expand Portfolio; Announces 2025 Strategy

Givaudan (GVDBF.PK), a Swiss manufacturer of fragrance and flavor products, said that it will continue to further expand beyond the current portfolio of flavours and fragrances, naturals and delivery systems into nutrition, food ingredients and beauty.

The trend for smaller and local brands will drive growth in the local and regional customer segment, while there will be continued potential with larger international and global customers, the company said.

The company said that, over the next five years, it plans to maximise mature market opportunities whilst at the same time extend its high growth market leadership, particularly in China.

The company will re-name its flavour division to "Taste & Wellbeing", and Fragrance Division to "Fragrance & Beauty."

Givaudan announced its financial targets for the next five years. It aims to deliver average organic sales growth of 4-5% on a like-for-like basis; average free cash flow of at least 12%.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration (FDA) approved Boehringer Ingelheim's Cyltezo as the first interchangeable biosimilar to AbbVie's top-selling drug Humira or adalimumab. Cyltezo, originally approved in August 2017, is both biosimilar to, and interchangeable with Humira for Cyltezo's approved uses. The Food and Drug Administration may be planning to allow people to receive Covid-19 vaccine booster shot that is different from the initial dose, reports indicate. The agency is likely to make the announcement on mix and match approach on coronavirus booster vaccines on Wednesday. The move will be part of FDA's expected authorization of boosters for the Moderna and Johnson & Johnson vaccines. Drug major Johnson & Johnson on Tuesday raised again its forecast for fiscal 2021 earnings and sales, which are above market view, after reporting higher results in the third quarter. The company's quarterly adjusted earnings also beat market estimates. In pre-market activity on the NYSE, JNJ shares were gaining around 1.24 percent to trade at $162.10.
Follow RTT