German generics drugmaker STADA Arzneimittel (SAZ: GR) has established a subsidiary based in Sydney, Australia, under the name STADA Pharmaceuticals Australia Pty, which is expected to commence business activities in the third quarter of 2012.
The STADA Group's initial investment for the activities in the Australian market amount to around A$2 million ($2.1 million). Two managers with decades of experience in the pharmaceutical industry will advance the establishment of the Australian STADA subsidiary, the German parent noted.
Entering an A$1 billion generics market
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