STADA: General Meeting approves domination and profit and loss transfer agreement with Nidda Healthcare GmbH
02/02/2018 - 05.52 PM . Press Release
- Dr. Günter von Au: ‘Management and Supervisory Board are pulling together’
- STADA excellently positioned for future
Bad Vilbel, February 2, 2018 – The Extraordinary General Meeting of STADA Arzneimittel AG (STADA) on February 2, 2018 with a majority of 99 percent approved the conclusion of the domination and profit and loss transfer agreement (DPLTA) of December 19, 2017 between Nidda Healthcare GmbH as controlling entity and STADA as dependent company. The agreement must be entered into the Commercial Register before it takes effect.
“We are delighted at this excellent result and the broad-based support of our shareholders. This will enable us to work together with our majority shareholder more closely and effectively in the future,” says Dr. Günter von Au, Chairman of the Supervisory Board of STADA Arzneimittel AG.
Dr. von Au sees this approval as another important step in bringing calm to STADA. “We have made important changes to set the course for STADA in the long term. Our current CEO Claudio Albrecht has made considerable progress since he took up the position at STADA in 2017 and will continue to press ahead energetically with the necessary reforms up until September. He will also remain available to our company in a non-executive position in the long term. At the same time, we are delighted to have found an excellent successor in Peter Goldschmidt, who will be joining us from Sandoz USA.”
For Dr. Günter von Au, this ensures that the disputes of the past will not be repeated. “The management and the Supervisory Board are pulling together. We are working together in a coordinated manner, as is intended at a professionally managed listed company. STADA is thus excellently equipped for the future.”
It is important to Dr. von Au to emphasize that the approximately 11,000 employees can rest assured that the changes in strategy initiated by Albrecht will also be continued by his successor Goldschmidt. “Continuity will be ensured; nobody needs to worry. We are looking ahead with optimism.”
Dr. Günter von Au,
Chairman of the Supervisory Board
of STADA Arzneimittel AG
About STADA Arzneimittel AG
STADA Arzneimittel AG is a publicly-listed company with headquarters in Bad Vilbel, Germany. STADA consistently focuses on a multi-pillar strategy of generics and branded products (OTC) with an increasingly international market orientation. Worldwide, STADA is represented in more than 30 countries with more than 50 subsidiaries. Branded products such as Grippostad and Ladival are among the highest selling in their product categories in Germany. In financial year 2016, STADA achieved adjusted Group sales of Euro 2,167.2 million, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of Euro 398 million and adjusted net income of Euro 177.3 million. As of December 31, 2016, STADA employed 10,900 people worldwide.
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