Stada Arz says first six months of 2018 as expected

German generics major Stada Arzneimittel (SAZ: Xetra), which just last week announced it is increasing its presence in the important biosimilar sector by taking a majority stake in an affiliate Bioceuticals Arzneimittel, today released mixed financial results for the first half of 2018.

Stada noted that reported group sales dipped 1% in the first six months to 1,137.5 million euros ($1.32 billion). Sales of STADA Vietnam JV are no longer included. Adjusted for or portfolio and currency effects, sales increased by 5% to 1,171.6 million euros.

Reported earnings before interest, taxes, depreciation and amortization (EBITDA) were up 18% in the reporting period to 260.6 million euros, while adjusted EBITDA rose by 10% to 261.7 million euros. Reported net income leapt 83% to 165.3 million euros, while adjusted net income rose 31% to 149.7 million euros.