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Thanks to several takeovers, especially in the Eastern European business, sales in the first half of the year grew by 16 percent to 1.47 billion euros, the Grippostad manufacturer announced on Wednesday. By own means there was an increase of 9 percent compared to the same period last year.
The corona crisis had different effects: While STADA benefited from hamster vats in the spring, for example with immune preparations and painkillers, and produced at record levels at times, the Hessians had to struggle with headwinds in the second quarter.
In countries like Russia, where consumers usually have to pay for their medication themselves, demand fell significantly. Fewer people went to pharmacies, doctors and hospitals there, explained STADA. The bottom line was that operating profit before interest, taxes, depreciation and amortization grew by 14 percent to 337 million euros in the first half of the year. There was no information on net profit.
STADA, with around 11,100 employees, produces over-the-counter medicines such as the coolant Grippostad, as well as imitation medicines and specialty pharmaceuticals. The financial investors Bain and Cinven took over the group based in Bad Vilbel near Frankfurt in 2017 after a long takeover for 5.3 billion euros.
With the new owners behind us, STADA bought a drug portfolio from its Japanese competitor Takeda for around 600 million euros in 2019, thereby strengthening business in Russia and the rest of Eastern Europe. In addition, the Hessians took over the pharmaceutical manufacturer Walmark in the Czech Republic for a three-digit million amount.
STADA boss Peter Goldschmidt spoke of growth above the market average. However, it takes a lot of creativity and commitment to continue the course in the second half of the year.
/ as / DP / e.g.
BAD VILBEL (dpa-AFX)
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