STADA: STADA strengthens aesthetics area through cooperation with CROMA-PHARMA and at the same time secures access to Botulinumtoxin A
12/17/2015 . Press Release
Bad Vilbel, December 17, 2015 – With the goal of expanding its business activities in the area of dermatological treatments, STADA Arzneimittel AG will cooperate with the Austrian company CROMA-PHARMA GmbH through its subsidiary STADA Aesthetics AG in the future.
The long-term cooperation relates to the existing product portfolio as well as the CROMA-PHARMA product pipeline. Under their premium brand Princess®, which is exclusively sold by dermatologists, the company offers a wide range of products in the area of non-invasive and minimally-invasive aesthetic dermatology. This includes hyaluronic acid products in the form of so-called fillers, face masks or serums as well as innovative medicinal products such as lifting threads. Exclusive brand licensing rights and other distribution rights for STADA currently relate to Germany, Belgium, Italy, the United Kingdom, Sweden, Denmark, Finland, Norway, Hungary, Croatia and Hong Kong. In Germany and Belgium, STADA will purchase the existing sales companies of CROMA-PHARMA GmbH with a total of five employees. It is planned that the sale of the products in the German market will be taken over by the STADA subsidiary STADAvita GmbH, and by other STADA subsidiaries in the remaining countries.
“The cooperation with CROMA-PHARMA enables us to drive the expansion of the aesthetic treatment area as planned. Aesthetic medicine has shown above-average growth potential worldwide which we want to benefit from by expanding”, says Hartmut Retzlaff, Chairman of the Executive Board at STADA Arzneimittel AG regarding the cooperation’s promising perspectives.
Mag. pharm. Andreas Prinz, Managing Director and co-owner of CROMA-PHARMA GmbH, comments: “We are happy to have found a strong partner for selected markets in STADA. Both parties will benefit greatly from the cooperation.”
CROMA-PHARMA has a well-filled product pipeline. It also includes products containing the active ingredient Botulinumtoxin A, which is currently in the clinical study phase 3 for application in cosmetic dermatology.
The purchase price paid by STADA for the existing products and the pipeline as well as the purchased sales companies is in the single-digit million euro area. Once an approval of Botulinumtoxin A has been issued, a further payment in the single-digit million euro range will be due.
CROMA-PHARMA, based in Leobendorf, Austria, was founded in 1976, currently employs approximately 300 people and has 13 own branch offices. Using sales organizations/sales partners, the company is active in nearly 100 countries. The aesthetics portfolio of the Princess® product line is developed and manufactured by CROMA-PHARMA. The production is carried out at the Leobendorf location near Vienna.
About CROMA-PHARMA GmbH:
CROMA-PHARMA is a globally operated family owned pharmaceutical company based in Leobendorf, Austria. Since 2014 the company has focused its core business on the booming Anti-Aging market. Based on its expertise CROMA-PHARMA became one of the most innovative enterprises in the field of non-invasive and minimally-invasive aesthetic dermatology. Under its umbrella brand "Princess" CROMA-PHARMA produces and markets skin masks, serums, intradermal fillers, and lifting threads. The entire product line is exclusively sold through pharmacies and dermatologists. From early on CROMA-PHARMA believed in Hyaluronic Acid and with an annual output of almost 6 million pre-filled syringes CROMA-PHARMA is a leading producer of Hyaluronic Acid based products. CROMA-PHARMA puts strong efforts in its own Research & Development which is based at the companies headquarters in Leobendorf, while also anticipating trends and courageously taking the opportunities to in-license new products and technologies or acquiring stakes in other companies. CROMA-PHARMA currently employs approximately 300 people and operates 13 owned subsidiaries. Through a network of distribution cooperations it's products are available in nearly 100 countries worldwide. CROMA-PHARMA is a National Winner in the European Business Awards and a committed partner of “Light for the World“. This CSR Partnership has won the company the TRIGOS 2014 award, the most prestigious award for CSR projects.
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 2014, STADA achieved Group sales of Euro 2,062.2 million, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of Euro 431.9 million and adjusted net income of Euro 186.2 million. As of December 31, 2014, STADA employed 10,363 people worldwide.
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