Stada introduces new group’s strategy

Stada pharmaceutical group today has announced its new strategy to investors for the first time after being acquired by PEs Bain Capital and Cinven. Simultaneously, the company has reported its 2017 financial results. The new strategy includes business internationalization, by commercializing Stada’s two leading products Grippostat and Ladival sunscreen in new markets–especially Asia. Additionally, Stada will invest more in biosimilars and particular products such as inhalers over the next three years.  2018 will be a significant year for Stada. Revenues will increase to €2.5bn and profit to €230m, improving the disappointing €85m reported in 2017. Additionally, the group’s head will change in August, with  CEO Claudio Albrecht stepping down in favor of Peter Goldschmidt, formerly head of competitor Sandoz’s US division.

(Source: Handelsblatt)