STADA acquires OTC products in Italy
10/26/2000 . Press Release
Bad Vilbel, 26.10.2000. The German pharmaceuticals company STADA Arzneimittel AG has reached an agreement with the Italian Montenegro Group on the acquisition of pharmaceutical products from the "Bonomelli Farmazia" product line. This product line with direct pharmacy sales encompasses non-prescription medications (so-called OTC products), food supplements for sportsmen and women, phyto-pharmaceuticals and a range of baby foods. The total value of sales for the products acquired by STADA amounts to around EUR 3 million. The products will be marketed in future by STADA's Italian subsidiary, EG S.p.A. - Laboratorie Eurogenerici.
The acquisition does not include the "Bonomelli" brand itself or the oldest and most well-known camomile product in Italy, which is sold under this brand name. The Montenegro Group will retain this camomile product and the "Bonomelli" brand, whilst STADA will become the brand owner of the brands of all the acquired products.
STADA is one of the most important European suppliers of generic drugs with anticipated sales of around EUR 435 million in 2000 and around 1,500 employees worldwide at present. The Italian STADA subsidiary EG S.p.A. was established in 1998 and commenced operations in the Italian generic drugs market in December 1999. As of today, EG S.p.A. has 15 products with more than 30 different presentations on the market.
The acquisition of this package of OTC products fits in well with STADA Group's strategy of international expansion into those segments of the health market such as generic drugs or self-medication, that are benefiting from the severe cost pressures in all the national health insurance systems. In addition, this acquisition underpins the strategic position of EG S.p.A. as it substantially strengthens the company's presence in the pharmacy distribution channel. Pharmacies play an important role alongside doctors in the successful market penetration of the Italian generic drugs market.
For more information, please contact:
STADA Arzneimittel AG
D-61118 Bad Vilbel
Tel.: +49 6101 603-113
Fax: +49 6101 603-506