STADA expands its business activities into Myanmar
12/16/2013 . Press Release
Bad Vilbel/Yangon, December 16, 2013 – Products from the German pharmaceutical producer STADA are now also available in Myanmar (Burma). Local partners offer the relevant STADA products, including both generics and branded products, on the market via in-licensing. The product range on offer is to be expanded gradually. This makes STADA one of the first western pharmaceutical companies to take up activities in this Southeast Asian country.
“Myanmar fits perfectly into our strategy of continuous internationalization while focusing on high-growth emerging markets in the process”, says Hartmut Retzlaff, Chairman of the Executive Board of STADA Arzneimittel AG. “Now that the country has opened up, the supply of medicines in the market with a population of 60 million shows substantial pent-up demand, particularly for high-quality, low-cost medicines. We intend to be present from the beginning. The licensing model and our experience in Asia have provided us good opportunities in the future market of Myanmar.”
“STADA's commitment is very forward-looking”, explains Christian-Ludwig Weber-Lortsch, Ambassador of the Federal Republic of Germany to Myanmar. “Everyone involved benefits from the Burmese market opening up. German companies like STADA can penetrate a growing market with future prospects. The population, on the other hand, gains access to a high-quality yet low-cost supply of medicines.
The production of medicines for Myanmar is to commence from the end of 2015 in a newly built production facility in Yangon financed by local partners. To that end, “Stada Myanmar Joint Venture Co. Ltd.” was founded; the STADA Group has no shareholding in this company. The license agreement, however, gives STADA the option of taking over the company at a later date. Until then, the Burmese market will be supplied with products from the Vietnamese production facilities of the STADA Group.
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 one of the five leading companies in the generics industry and is represented in more than 30 countries with approximately 50 subsidiaries. Branded products such as Mobilat, Grippostad and Ladival are among the highest selling in their product category in Germany. In financial year 2012, STADA achieved Group sales of Euro 1,837.5 million, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of Euro 367.5 million and adjusted net income of Euro 147.9 million. As of December 31, 2012, STADA employed 7,761 people worldwide.
For more information, please contact:
STADA Arzneimittel AG
D-61118 Bad Vilbel Germany
Phone: +49(0) 6101 603-165
Fax: +49(0) 6101 603-506