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.
For more information, please contact:
STADA Arzneimittel AG
D-61118 Bad Vilbel
Tel.: +49 6101 603-113
Fax: +49 6101 603-506
Posted: March 2012