Germany’s firm Stada adds to its Middle East portfolio after Leo Pharma deal
Stada adds to consumer healthcare portfolio with ‘Fito’ buy
Dubai: The German pharma company Stada has added to its consumer healthcare business in the MENA region with the acquisition of ‘Fito’ from Leo Pharma.
The medical device is based on the wheat extract Rigenase and typically used for the dermatological treatment of first- and second-degree burns, ulcers, wounds and abrasions.
The acquisition includes the takeover of the existing business in the UAE and Saudi Arabia, as well as other markets in the region.
"We look forward to leveraging our local marketing and sales strength to develop the full potential of this strong brand in the many markets of the MENA region,” said Stephane Jacqmin, Executive VP for Emerging Markets at Stada. “This will strengthen Stada's role as the partner of choice in consumer healthcare and support our growth in the region.”
The MENA operations have also entered into a supply and distribution agreement with Italy’s Farmaceutici Damor.
Stada Arzneimittel, headquartered in Germany, focuses on a three-pillar strategy consisting of consumer healthcare products, generics and specialty pharma. Last year, it had group sales of 3.73 billion euros.