Stada's 2005 sees 26% growth in sales

German company Stada Arzneimittel AG says it saw a 26% rise in its 2005 sales to 1.02 billion euros ($1.21 billion), up from the 813.5 million euros it recorded in 2004. The firm adds that 2005 is therefore the 10th year it has seen an increase in product sales, and is the first year it has surpassed the 1.0 billion euro revenue barrier.

Stada added that, according to its preliminary figures, its operating profit for 2005 reached 127.1 million euros, a 45% increase on 2004's 87.8 million euros. In addition, the group's earnings before tax increased 26% to 97.5 million euros and its net income reached 51.6 million euros.

In October 2005, the firm ended its development of the autologous tumor vaccine Reniale, which it had been working on with fellow German company LipoNova, following a meeting with the European Medicinces Agency, leading to write-offs of around 17.0 million euros.