Germany's STADA Arz plans to accelerate expansion in Russian

German drugmaker STADA Arzneimittel (SAZ: Xetra) plans to accelerate its expansion in the Russian pharmaceutical market in the coming years, Stefan Eder, executive vice president of STADA in Russia and the CIS, said in an interview with the Russian Kommersant business paper.

According to Mr Eder, over the past 15 years, STADA has invested over $1 billion in the Russian and CIS market, including a record $660 million on the purchase of Takeda's portfolio in 2020.

Mr Eder said in the next three years, the company plans to invest 13 million euros ($15.3 million) to increase the capacities of its local production sites of Nizhpharm and Hemofarm.