Germany's STADA Arz posts strong first-quarter 2010 results, despite difficult climate

German generics drugmaker STADA Arzneimittel, which has become the object of takeover speculation after US behemoth Pfizer lost out in the fight to acquire Ratiopharm to Teva, has published strong financial results for the first quarter of 2010.

Group sales rose by 5% to 395.7 million euros ($500.6 million), due in particular to the firm's international sales which, in the first quarter of 2010, made up a total of 64% of group revenues and increased 11% to 252.3 million euros. EBITDA was up 12% for the quarter at 75.8 million euros and net income advanced 17% to 28.1 million euros.

"Despite the ongoing difficult framework conditions in various national markets, the key earnings figures of the first quarter are in the upper end of our expectations. We can therefore talk about a very good result in the first quarter", was the positive comment of Hartmut Retzlaff, chairman of the executive board of STADA.