FRANKFURT, March 17 German drugmaker Stada
, the subject of takeover approaches from two private
equity consortiums, has raised it outlook for the medium term on
anticipated growth in its core generics business and additional
The company now expects 2019 adjusted group sales of between
2.65 billion euros and 2.7 billion ($2.85-$2.91 bln), up from a
previous outlook of about 2.6 billion euros.
Adjusted earnings before interest tax, depreciation and
amortization (EBITDA) is expected to come in at between 570
million euros and 590 million and adjusted net income at between
250 million euros and 270 million.
Previously the company had said it expected adjusted EBITDA
to reach about 510 million euros in 2019 and adjusted net income
at about 250 million euros.
On Thursday, Stada postponed the bidding process to give
rival suitors a chance to improve their offers.
($1 = 0.9284 euros)
(Reporting by Harro ten Wolde; Editing by Arno Schuetze)