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Germany's Stada banks on branded drugs to shore up growth
October 5, 2016 / 8:31 AM / a year ago

Germany's Stada banks on branded drugs to shore up growth

FRANKFURT, Oct 5 (Reuters) - Stada, the German generic drugmaker whose chairman was ousted by disgruntled investors, said it was banking on branded products to underpin longer term growth.

The company said on Wednesday that its target of group sales of 5 percent on average per year until 2019 would be driven by 8 percent growth per year at the branded products business, which makes brand-name prescription drugs that have lost patent protection as well as branded non-prescription drugs.

Stada is making presentations on its growth prospects to investors on Wednesday.

Stada’s non-branded generic drugs business, which still accounted for about 60 percent of group sales last year, would see revenue increase by about 3 percent per year through 2019, it added.

Stada issued new earnings targets for 2019 in July.

Reporting by Ludwig Burger; Editing by Harro ten Wolde

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