Sources inform “Globes” that drug and toiletries maker Dr. Fischer (Fischer Pharmaceuticals) is about to set up a chain of stores in the US. The company is already active in retail, through its Body Shop chain of 22 stores, in addition to its manufacturing business. Body Shop has no connection with Britain's The Body Shop International PLC (LSE:BOS).
18 months ago, Dr. Fischer planned to acquire retail chain General Nutrition Companies (GNC) Israel, which has 16 stores, from Michael (Mickey) Dorsman. Fischer Pharmaceuticals founder Dr. Eli Fischer planned to merge Body Shop and GNC Israel. GNC Israel general manager Yoram Sasson was slated to manage the joint chain. However, Dr. Fischer withdrew from the $2 million merger at the last minute.
The acquisition of GNC Israel was part of Dr. Fischer's strategy to enter the food supplement market, even though growth rates in this market plummeted from 40% five years ago to 6% last year.
In late 2002, Dr. Fischer established a new food supplements unit at a $1.5 million investment over the past year. Dr. Fischer has launched a range of food supplements and health products that are marketed in the US and Europe. One of the company's proprietary food supplements is a multivitamin to protect vision.
Last year, Dr. Fischer also developed a series of anti-wrinkle devices, under the brand name "Age Control", at an investment of $500,000.
Dr. Fischer specializes in developing treatments for the eyes and skin, and preparations for infants and to prevent premature aging of the skin. The company's business is estimated at $50 million.
Fischer Pharmaceuticals general manager Moshe Zilberstein declined to comment on the report.
Published by Globes [online] - www.globes.co.il - on February 2, 2004