Solid financials from Stada but outlook sends stock down
German generic and branded drugmaker Stada Arzneimittel (SAZ: GR) posted a solid set of financial results for 2013, but saw its shares plunge 15% to 29.40 euros by close of trading yesterday, as the company warned of a poor outlook as a result of uncertainties in Russia and Ukraine.
Stada group sales for the year increased 10% to 2.01 billion euros ($2.78 billion) and exceeding the two billion euro mark for the first time in the company’s history.
Sales of the core Generics segmentshowed a rise of 2% to 1.23 billion euros, thereby contributed 61.3% to group sales (previous year: 66.0%). Sales of the core segment Branded Products leapt 19% to 708.5 million euros in 2013.
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