STADA Arzneimittel AG — M&A Activity 2001

Mar 7, 2001

News Details

Ad-hoc | 7 March 2001 08:06

Ad hoc-Service: STADA Arzneimittel AG english

Ad-hoc announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– STADA Arzneimittel AG is continuing to develop its business in Asia with two new acquisitions. The takeover of the Hong Kong-based Health Vision Enterprise Ltd. will secure strategic access for STADA to the Chinese pharmaceuticals market with its enormous potential for future growth. The takeover of the Filipino Croma Medic Inc. is intended to build on the existing sales base of STADA products in the Philippines and accelerate its growth. STADA has acquired 51% of the shares in the Hong Kong-based company Health Vision Enterprise Ltd. with retrospective effect to 01.01.2001. The management of Health Vision retains a 49% stake in the company. Health Vision, which achieved sales in excess of DM 14 million in 2000, specialises in the licensing and marketing of pharmaceuticals of medium-sized pharmaceutical companies in China. With its own 90-strong sales force in China, the company covers 700 major hospitals and thus around 75% of the potential demand for imported drugs in China. In future, Health Vision will also be responsible for marketing STADA products in China, where the first STADA product has already been granted an import marketing licence. STADA has also acquired 60% of the shares in Croma Medic Inc. in the Philippines, again with retrospective effect to 01.01.2001. The management of this company is also retaining a stake, this time 40%. In 2000 the company recorded a turnover of around DM 4,4 million from the sale of pharmaceutical products. Croma Medic will be responsible for the local distribution of STADA products in future and it is hoped that this move will lead to a substantial increase in STADA sales, which are currently still low in this region. Croma Medic is highly geared towards sales, employing a sales force of 50 out of a total staff of around 70 in the Philippines. This investment in Asia is part of STADAs long-term internationalisation strategy. With the two new acquisitions and the existing STADA subsidiaries in Hong Kong and Thailand, consolidated group sales in Asia will break the DM 35 million barrier in 2001. For further information please contact: STADA Arzneimittel AG / Corporate Communication / 61118 Bad Vilbel Tel.: +49(0) 6101 603 -113 / Fax: +49(0) 6101 603 506 /E-mail: communication@stada.de Or visit our website at www.stada.de end of Ad hoc-announcement, (c) DGAP 07.03.2001 ———————————————————————– WKN: 725180; Index: SMAX Listed: Amtlicher Handel in Frankfurt und Düsseldorf; Freiverkehr in Berlin, Hamburg, München und Stuttgart 070806 Mär 01