Stada Arz invested 600 million euros in Russian business in 2020
German drugmaker Stada Arzneimittel (SAZ: Xetra) invested more than 600 million euros ($725 million) in expanding its Russian range and modernization of its local production facilities in 2020, according to recent statements by the company.
Most of these funds were allocated in the expansion of the company’s production facilities in Nizhny Novgorod (Nizhpharm) and the Kaluga Region (Hemofarm).
As Stefan Eder, executive vice president of Stada in Russia and the CIS, said in an interview with the Russian Kommersant business paper, the company sees great potential for its Russian business.
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