Press Release - STADA increases its stake in Pymepharco in Vietnam
STADA increases its stake in Pymepharco in Vietnam
- STADA CEO Peter Goldschmidt: "An excellent basis for becoming a key leader in Vietnam " - Total stake by STADA is now 72 Percent - Highest growth of pharmaceutical companies in Vietnam
Bad Vilbel, December 6, 2018 - STADA Arzneimittel AG increases its indirect shareholding in the Vietnamese pharmaceutical company Pymepharco JSC to 72 percent.
"Vietnam is one of the key growth markets in Asia where we want to continually expand in the future. Our extended investment in Pymepharco is an excellent basis for this," says Peter Goldschmidt, CEO at STADA.
Vietnam is one of the most attractive pharmaceutical markets in this region, with consistent double-digit growth in recent years and currently an equally stable outlook. In 2016, STADA achieved sales in Vietnam in the three-digit million euro range. Pymepharco stands to play a stronger role in the development of neighboring Southeast Asia markets in the future.
"STADA's commitment strengthens our conviction that we are successful and on the right track with our previous cooperation. I am pleased to be able to open and accompany another chapter together", says Huynh Tan Nam, Chairman of Pymepharco.
Pymepharco is currently expanding with the highest growth among the top five pharmaceutical companies in Vietnam and is the second largest generic prescription manufacturer in the country.
The company also provides more complex dosage forms as well as prescription-free drugs and dietary supplements. STADA already successfully contributed its international marketing and sales know-how in this area in the past.
Production potential for other regions of the STADA Group
STADA has been a strategic investor in Pymepharco since 2008. During this time, the German pharmaceutical manufacturer has provided significant support in the development of technology and the introduction of the EU GMP (Good Manufacturing Practice) standards. Two areas at the Pymepharco site already apply this standard and a third is currently being established. These developments and investments over the last years combined with the most recent commitment show a high potential of the production sites in Vietnam for other regions within the STADA Group.
About STADA Arzneimittel AG
STADA Arzneimittel AG is a publicly-listed company with headquarters in Bad Vilbel, Germany. The company focuses on a three-pillar strategy consisting of generics, non-prescription OTC products and specialty pharmaceuticals, biosimilars in particular. Worldwide, STADA is represented in about 30 countries with roughly 50 subsidiaries. Branded products such as Grippostad and Ladival are among the highest selling in their product categories in Germany. In financial year 2017, STADA achieved adjusted Group sales of Euro 2,255.3 million, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of Euro 433.9 million and adjusted net income of Euro 195.6 million. As of December 31, 2017, STADA employed 10,176 people worldwide.
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