NIZHNY NOVGOROD - The German pharmaceuticals company Stada AG increased its Russian-market sales 26% last year to EUR 279.6 million, the company said in a statement.
"In Russia, which continues to be the group’s second most important national market according to sales [after Germany], Stada generated a significant sales increase of 29% in financial year 2011, applying the exchange rate of the previous year. Sales in euro increased by a strong 26% to EUR 279.6 million (previous year: EUR 221.2 million)," the company reported.
"With generics, the group recorded sales growth in the amount of 22% to EUR 124.9 million (previous year: EUR 102.6 million), so that their share of Stada’s sales in the Russian market amounted to 45% (previous year: 46%). Sales of branded products rose significantly by 30% to EUR 153.5 million (previous year: EUR 118.2 million) and thus to 55% of Stada’s Russian sales (previous year: 53%)," Stada said.
The results of the 2011 financial year showed that the Russian market remains very profitable and dynamically developing, which assists Stada in increasing its financial figures despite significant financial losses and currency exchange rate fluctuation, Stada AG’s Vice President for Russia, the Commonwealth of Independent States, and the Baltic States Dmitry Yefimov said.
"In financial year 2012, Stada expects further strong sales growth in local currency in Russia with operating profitability above Group average. The sales and earnings contributions of Stada’s business in both Russia as well as at the Group level will remain affected by the development of the currency relation of the Russian ruble to the euro," the statement says.
Overall Stada sales increased 5% to EUR 1.72 billion last year.
Stada CIS, which runs Stada assets in Russia, the CIS, and the Baltics, has companies in three lines of business: developing medicine products (Stada PharmDevelopmnet), marketing and sales (Stada Marketing (Russia), Stada Ukraine, Stada Central Asia (Kazakhstan, Tajikistan, Kyrgyzstan, and Uzbekistan), Stada Azerbaijan, Stada Armenia, and Stada Belarus), and producing medicine products (Nizhpharm (Nizhny Novgorod), Makiz-Pharm (Moscow), Skopinpharm (Ryazan Region), and HemoPharm (Kaluga Region)).
Stada CIS makes more than 150 kinds of medical preparations.
