Stada Arz takes majority stake in biosimilars developer

German generics major Stada Arzneimittel (SAZ: Xetra) is increasing its presence in the important biosimilar sector by taking a majority stake in an affiliate.

Subject to approval by the antitrust authorities, Stada is acquiring an additional 35.48% of the shares from its co-shareholders, which combined with the shares already held – means that it now has a 51.34% stake in Bioceuticals Arzneimittel, a venture capital-funded operation set up by Stada to carry out its biosimilar programs.

The parties agreed to maintain confidentiality with regard to the financial conditions of the transaction. Bioceuticals manufactures the active ingredient erythropoietin and markets it particularly by issuing sales licenses to Stadapharma and other third parties.