STADA Supervisory Board establishes Ad Hoc Committee
02/16/2017 - 04.17 PM . Press Release
- Close support for the Executive Board in open-minded talks with investors
Bad Vilbel, February 16, 2017 – In order to help the Executive Board of STADA Arzneimittel AG protect the interests of the company as efficiently as possible in the current situation, the Supervisory Board has resolved to establish an ad hoc committee of the Supervisory Board. The committee which consists of five members and will be headed by Supervisory Board Chairman Ferdinand Oetker, will ensure a quick and close exchange of information between the two boards and will allow for a rapid decision making process for transactions requiring approval.
The Supervisory Board views the establishment of the committee as an expression of a coordinated approach in the ongoing open-minded talks that the Executive Board is conducting with the full endorsement and support of the Supervisory Board. The Executive Board of STADA Arzneimittel AG explicitly welcomes the establishment of the committee and looks forward to a trusting cooperation.
The open-minded talks with the two potential bidders which were announced on February 13, 2017 in an ad hoc update to the ad hoc release on February 12, 2017 are continuing.
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. The Group is the only independent generics producer in Germany. 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 2015, STADA achieved Group sales of Euro 2,115.1 million, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of Euro 389.4 million and adjusted net income of Euro 165.8 million. As of December 31, 2015, STADA employed 10,532 people worldwide.
Additional information for journalists:
STADA Arzneimittel AG / Media Relations / Stadastraße 2–18 / 61118 Bad Vilbel – Germany /
Tel.: +49 (0) 6101 603-165 / Fax: +49 (0) 6101 603-215 / E-mail: press(at)stada.de