Germany's STADA eyes more active expansion into Russia
German drugmaker STADA Arzneimittel (SAZ: Xetra) plans to continue an active development in the Russian pharmaceutical market in the coming years, considering it as one of the most promising for its further growth, reports The Pharma Letter’s local correspondent.
Stefan Eder, executive vice president of STADA Russia and the CIS, said in an interview with the Russian Kommersant business paper, the Russian business for STADA currently remains the world’s second largest only after Germany, while in the second half of 2021, the growth of Russian sales of STADA was even higher than those of Germany. That was mainly due to tough trade environment in Germany, caused by the consequences of the pandemic.
Mr Eder has also said that, in addition to anti-COVID-19 drugs, the company currently sees an increased demand for drugs for various non-communicable diseases, such as heart diseases.
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