Stada Arz raids big pharma for new management team members

German drugmaker Stada Arzneimittel (SAZ: Xetra) has snapped up senior executives from Sandoz, Biogen (Nasdaq: BIIB) and Pfizer (NYSE: PFE) to be part of its management team.

The company announced a new strategy last month focused on the three pillars of generics, non-prescription brands and specialty pharmaceuticals such as biosimilars, along with a focus on efficiency gains in internal processes.

To implement the new strategy, the company sees the need to make some changes at the top management level.