Legal action against Stada Arz's Serbian subsidiary has been resolved

The insolvency administrator of Velefarm Holding as well as Velefarm VFB and the Serbian Hemofarm, a subsidiary of German drugmaker Stada Arzneimittel (SAZ: Xetra), have agreed on the resolution of a legal dispute.

The settlement relates to the legal action taken by the insolvency administrator against Hemofarm, among others, in Belgrade’s commercial court in February 2014. At that time, the insolvency administrator had demanded that certain agreements and statements from the years 2010 and 2011 that had been reached between Hemofarm and companies of the Serbian wholesale group Velefarm with regard to the insolvent assets of Velefarm Holding and Velefarm VFB be declared invalid and, as a result, repayments to the insolvent assets be made.

Original claim waived