Corporate | 27 March 2012 07:25
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STADA Arzneimittel AG / Key word(s): Miscellaneous
Corporate News STADA founds a subsidiary in Australia – business activities expected to commence in the third quarter of 2012 Bad Vilbel, March 27, 2012 – In the current first quarter of 2012 STADA Arzneimittel AG founded a subsidiary based in Sydney, Australia, under the name STADA Pharmaceuticals Australia Pty Ltd, which is expected to commence its business activities in the third quarter of 2012. Two managers with decades of experience in the pharmaceutical industry will advance the establishment of the Australian STADA subsidiary. The sales of the Australian generics market currently amounts to approx. AUD 1 billion (approx. EUR 820 million) with average annual growth of approx. 5%. In view of expiring patents from the year 2012 to 2014 with sales at current ex-factory prices in the amount of approx. AUD 2.1 billion (approx. EUR 1.72 billion), high growth is expected in the Australian generics market. Further growth opportunities are also emerging as a result of the current relatively low generics penetration of less than 40% in Australia. In order to be able to benefit from this growth potential, the new STADA sales company will initially market a number of in-licensed off-patent products, which will be supplemented successively by additional products also from STADA’s own pipeline.
The STADA Group’s initial investment for the activities in the Australian market amount to approx. AUD 2 million (approx. EUR 1.64 million).
By founding the new subsidiary, STADA would like to benefit from the growth opportunities available in the Australian generics market as well as further expand its presence in the growth region Asia/Pacific.
Additional information:
End of Corporate News 27.03.2012 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
| Language: | English | |
| Company: | STADA Arzneimittel AG | |
| Stadastraße 2-18 | ||
| 61118 Bad Vilbel | ||
| Germany | ||
| Phone: | +49 (0)6101 603- 113 | |
| Fax: | +49 (0)6101 603- 506 | |
| E-mail: | communications@stada.de | |
| Internet: | www.stada.de | |
| ISIN: | DE0007251803, DE0007251845, | |
| WKN: | 725180, 725184, | |
| Indices: | MDAX | |
| Listed: | Regulierter Markt in Düsseldorf, Frankfurt (Prime Standard); Freiverkehr in Berlin, Hamburg, Hannover, München, Stuttgart | |
| End of News | DGAP News-Service |
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| 162283 27.03.2012 |