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- Press Release
Strong in-market performance leads STADA to double-digit growth
- Continued strong organic market-share gains across key European markets, supported by several launches
- Adjusted Group sales advance by 15% while adjusted EBITDA improve by 23% in first half of 2022
- STADA CEO Peter Goldschmidt: “In many countries, we have been able to increase our market share in Consumer Healthcare and Generics, while continuing to advance our Specialty portfolio and pipeline.”
Bad Vilbel, 25 August 2022 – STADA showed persistence in a challenging operating environment marked by macroeconomic and geopolitical uncertainties to report double-digit sales and earnings growth in the first half of 2022. Despite inflationary pressures on goods and services, and supply-chain disruption due in part to the conflict in Ukraine, the Group based in Bad Vilbel, Germany, is continuing its growth journey.
Organic growth and offering a broader portfolio to patients and healthcare professionals through acquisitions and partnerships enabled STADA to increase adjusted Group sales by 15% to €1.768 billion in the first half of 2022. Adjusted for currency fluctuations and special effects, earnings before interest, tax, depreciation and amortisation (EBITDA) improved by 23% to €386.5 million.
STADA benefitted from broad-based growth across markets for each of its three strategic product segments: Consumer Healthcare, Generics and Specialty.
“I am particularly proud,” commented STADA CEO Peter Goldschmidt, “of how our approximately 13,000 colleagues around the world are continuing to drive growth through entrepreneurship, with agility and integrity and as One STADA. The very high engagement levels recently confirmed through a global employee survey is leading to a lot of new initiatives in a changing healthcare environment.”
“Focus on managing a complex portfolio comprising over 25,000 stock-keeping units (SKUs) provided through a strengthened and resilient supply-chain network has enabled STADA to maintain consistently high service levels and to step in to meet demand, thereby outperforming market averages,” Goldschmidt continued. “I would like to take this opportunity to thank our more than 500 partners around the world, who support us in further building out our supply-chain network and making it even more resistant to crises.”
“In many countries, we have been able to increase our market share in Consumer Healthcare and Generics, while continuing to advance our Specialty portfolio and pipeline.”
Consumer Healthcare sales climb by 25%
Acquisitions and partnerships leveraging STADA’s extensive marketing and sales platform, along with in-house product expansion through launches and line extensions, lifted adjusted sales in STADA’s Consumer Healthcare segment in the first six months of 2022 by 25% to €729.2 million. Consumer Healthcare accounted for 41% of STADA’s first-half Group sales.
Consumer Healthcare sales benefitted from STADA successfully integrating its acquisition in mid-2021 of 16 well-established local and regional consumer healthcare brands from Sanofi in countries predominantly in Europe, including France, Germany, Italy, Poland and Spain. These brands, for example, include: Mitosyl ointment and wipes for daily care of sensitive areas and protection against diaper irritation; Silomat dry-cough remedies; Frubiase nutritional supplements for athletes; Modafen cold and flu relief tablets; and the Viscontour allergen-free skincare range.
In addition, STADA has also since November 2021 been distributing Sanofi’s CHC portfolio of well-established consumer healthcare brands in 20 countries across Europe.
STADA has also continued to expand its Consumer Healthcare segment organically, such as by building on the successful introduction of additional sleeping aids, for example in Germany and Belgium (melatonin and herbal extracts), internationally rolling out vitamin and mineral products, and broadening the range of dermatology products.
Generics segment grows on broad base
Ensuring patient access to medicines immediately upon expiry or cancellation of patent and exclusivity rights helped STADA to raise adjusted sales in its Generics segment by 6% to €697.1 million in the first six months of 2022.
Growth by the Generics segment, which represented 39% of STADA’s first-half Group sales, was broad-based, driven by all key Western European countries including Belgium, France, Germany, Ireland, Italy, Spain and Switzerland. This helped STADA to maintain a top-five leadership position in this segment across Europe.
Specialty progress on both portfolio and pipeline
Adjusted sales of STADA’s expanding roster of Specialty medicines increased by 12% to €341.8 million on an adjusted basis in the first half of 2022, accounting for one fifth of Group sales.
In the biosimilars sector, STADA introduced the cancer treatment bevacizumab in several European countries, and then in June 2022 broadened European patients’ options by launching a high-concentration, citrate-free formulation of adalimumab in countries including France, Germany, Finland and Sweden. With these launches, STADA currently markets five biosimilars.
STADA continues in more countries to offer advanced-stage Parkinson’s disease patients a therapeutic option with a carbidopa, levodopa and entacapone product infused via modern pump technology. Furthermore, following a recommendation from the European Medicines Agency, the European Commission in July 2022 granted STADA’s development partner Calliditas Therapeutics a pan-European marketing authorization for a medicine for adults with primary immunoglobulin A nephropathy (IgAN). STADA plans to start supplying this orphan medicine in selected markets during the second half of this year.
Strong earnings provide basis for investment
As reported, group EBITDA advanced by 36% to €450.2 million on 17% a sales rise to €1,768.1 million. STADA also maintained discipline on operating costs while continuing to invest in marketing and sales support. A 71% increase in operating cashflow provided a good financial basis for further investment. To support its expanding portfolio through in-house and external development, STADA also earlier this year announced a €50 million project to build a supply-chain hub in Turda, Romania. This site, which will have an initial capacity to supply 100 million packages per year, is expected to create an additional 375 jobs.
STADA’s emphasis on, and commitment to, ensuring sustainable employment, supplies of medicines and economic investment – as shown, for example, by the Group’s participation in the UN Global Compact – will be detailed in STADA’s first Group-wide Sustainability Report, which will be published in the near future. “Sustainability comes naturally for us at STADA,” insists chief technical officer Miguel Pagan. “For us, Caring for People’s Health includes bringing trusted solutions for our patients and partners as well as supporting public authorities to build sustainable health systems.”
About STADA Arzneimittel AG
STADA Arzneimittel AG is headquartered in Bad Vilbel, Germany. The company focuses on a three-pillar strategy consisting of generics, specialty pharma and consumer healthcare products. Worldwide, STADA Arzneimittel AG sells its products in approximately 120 countries. In financial year 2021, STADA achieved group sales of EUR 3,249.5 million and reported earnings before interest, taxes, depreciation and amortization (EBITDA) of EUR 776.5 million. As of 31 December 2021, STADA employed 12,520 people worldwide.
Additional information for capital market participants
STADA Arzneimittel AG - Investor & Creditor Relations
61118 Bad Vilbel – Germany
Phone: +49 (0) 6101 603-4689
Fax: +49 (0) 6101 603-215