Pierre Fabre, founder of the eponymous pharmaceutical and cosmetics giant, died Saturday the 20th of July, aged 87.
The company which he founded in 1961 employs 10,000 people (6,700 in France) and had a turnover of 1.972 billion euros last year. “Since its creation in 1961 and until these last few days, Mr. Fabre has dedicated all his energy to building the 3rd largest French pharmaceutical company. He led, steered and masterminded all the different stages of its development and has built, stone by stone, an international company,” said the group in a release.
In order to ensure the future of the company and avoid any risk of dismantling or financial speculation, he gave his shares to the Foundation bearing his name. The group announced it would communicate about the decisions that will be taken to “pursue the exciting adventure” in the best possible conditions and in full accordance to the values and desires of its President and Founder.
The Pierre Fabre group recently invested 50 million euros in the extension of a production site for its Dermo-Cosmetics division.
