Stada Arzneimittel

ots Ad hoc-Service: STADA Arzneimittel AG STADA acquires Irish generic drugs company Clonmel Healthcare Ltd.

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    Bad Vilbel / Hessen (ots Ad hoc-Service) - The publicly-quoted Bad Vilbel-based pharmaceutical company STADA Arzneimittel AG has bought the Irish generic drugs company, Clonmel Healthcare Ltd., from Biovail Corporation International, a canadian based international pharmaceutical company, which itself had taken over the previous Clonmel Healthcare Ltd. owner and U.S. based Fuisz Technologies Ltd.

    Clonmel Healthcare Ltd. expect sales of 14,75 million IEP (36,875 million DM) in 1999. According independent market research institute IMS 6 million IEP (15 million DM) of this figure is attributable to its broad product range on the Irish generics market, in which Clonmel Healthcare Ltd. is the market leader with a market share of more than 23%. Clonmel Healthcare Ltd. achieves further sales in the export of generic drugs, primarily to Great Britain, and as a contracted manufacturer mainly of antibiotics for the US market. In addition, Clonmel Healthcare Ltd. holds product rights and licences for generic drugs in Europe; these now belong to STADA, who also acquired the rights to and sales from the marketing of the active substance diltiazem using an innovative technology.

    With this profile, Clonmel Healthcare Ltd. fits in with STADA Arzneimittel AGs expansion strategy: by adding Irish and English generic drug sales, STADA is further consolidating its already strong position as one of the leading European suppliers of generics. STADA is creating a wider basis for the marketing of its own extensive product pipeline, which contains many hot-selling generic drugs, some of which have patents that will soon expire in Ireland and Great Britain. The European Clonmel Healthcare Ltd. licences will in future be used in STADAs distribution structure. The Clonmel Healthcare Ltd. production facility in Ireland offers potential cost and tax advantages, as the manufacture of group products previously contracted out to external suppliers can be moved to the Irish side.

    The purchase is subject to the official approval by the Irish Faire Trading Office. As there are no legal obstacles, STADA expects this approval to be given in the near future.

    The acquisition of Clonmel Healthcare Ltd. represents another important step forward for STADA in the pursuit of its dynamic expansion policy. Further information on STADA can be found on the Internet at

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