STADA's subsidiary Eurogenerics increases profitability with new distribution agreement in Belgium
- Investor News
Bad Vilbel/Brussels, January 31, 2013 –
STADA Arzneimittel AG's Belgian subsidiary, S.A. Eurogenerics N.V., and the pharmaceutical company Omega Pharma N.V. have signed a new contract with a minimum term of five years for the distribution of generics to pharmacies and wholesalers in Belgium. As compared to the previous conditions, Eurogenerics expects annual cost reductions in the higher single-digit million euro area over the period of the contract. Customers in Belgium will also benefit from considerably improved service as a result of more intense utilization of the Omega Pharma sales team.
“We are very pleased to have reached an agreement with our long-standing partner Omega Pharma. This not only guarantees us five more years of continuity as well as the professionalism we have come to expect from the distribution of our generics in Belgium, it also results in significant cost reductions as compared to the previous conditions”, says Hartmut Retzlaff, Chairman of the Executive Board at STADA. “In addition to Group programs to increase profitability, such cost optimizations in the markets also keep us confident that we will be able to reach our financial goals for 2014.”
Eurogenerics has been carrying out the operational distribution of its products in Belgium via Omega Pharma since 1999.
About STADA Arzneimittel AG and S.A. Eurogenerics N.V.:
The STADA Group is present in over 30 countries and has, among other things, production facilities in Germany, Russia, Serbia, Vietnam and China. In 2011, STADA Arzneimittel AG generated EUR 1.7 billion in sales and had 7,867 employees worldwide as of June 30, 2012. In addition to generics, STADA focuses on known branded products such as Grippostad, Mobilat and Ladival. Eurogenerics is a wholly-owned subsidiary of STADA Arzneimittel AG. It is the larger of the Group's two Belgian sales companies, Eurogenerics and S.A. Neocare N.V. In 2011, the STADA Group generated sales of approximately EUR 140.9 million in Belgium. The headquarters of Eurogenerics is in Brussels.
For more information, please contact:
STADA Arzneimittel AG
D-61118 Bad Vilbel
Tel.: +49 6101 603-165
Fax: +49 6101 603-506