CROMA-PHARMA signed longterm cooperation with german company STADA Arzneimittel AG
In order to sustain and boost worldwide growth of the Princess® brand, CROMA-PHARMA successfully signed a extensive and longterm cooperation on exclusive distribution rights with German pharma-giant STADA Arzneimittel AG. With this strong partner, we have secured the global presence of the Princess® brand and guarantee a successful distribution of the entire Princess® portfolio in 11 markets.
Bad Vilbel, Germany, December 17th, 2015 – With the ambitious goal of dynamically expanding our business activities in the area of dermatological treatments, CROMA-PHARMA GmbH will closely cooperate with the stocklisted STADA Arzneimittel AG through their subsidiary STADA Aesthetics AG in the future. Cooperation started on December 16th, 2016.
The long-term cooperation relates to the existing product portfolio as well as the CROMA-PHARMA product pipeline and will also include our Botulinum Toxin. CROMA-PHARMA agreed to grant STADA brand licensing rights and other exclusive distribution rights which, at the first stage of the cooperation, relate to the markets of Italy, the United Kingdom, Finland, Norway and Hongkong. As of February 2016, the agreement will also cover Germany and Belgium. Sweden, Danmark and Croatia will be integrated in June/July 2016 and Hungary will follow in August 2017. In Germany and Belgium, STADA will purchase and integrate the existing sales companies of CROMA-PHARMA GmbH with a total of five employees. It was agreed not to communicate the amount of the licensing fees that SPADA paid to CROMA-PHARMA.
With this cooperation, CROMA-PHARMA took the perfect strategic decisions to successfully establish our Princess portfolio (Princess® Filler, Princess Lift & Princess® Skincare) in some of the most relevant aesthetic markets in the world. Through STADA, our products will be distributed also in previously un-marketed countries and will further boost brand awareness.
Andreas Prinz, Managing Director and co-owner of CROMA-PHARMA GmbH, comments: “We are very pleased to have found in STADA a truly powerful partner for selected key markets. Both parties will benefit greatly from the cooperation. For CROMA, this deal signifies a very satisfying result and provides for a fantastic foundation for future expansion plans.
“The cooperation with CROMA-PHARMA enables us to drive the expansion of the aesthetic treatment area as planned. Aesthetic medicine has shown above-average growth potential worldwide which we want to benefit from by expanding”, says Hartmut Retzlaff, Chairman of the Executive Board at STADA Arzneimittel AG regarding the cooperation’s promising perspectives.
About STADA Arzneimittel AG:
STADA Arzneimittel AG is a publicly-listed company with headquarters in Bad Vilbel, Germany. STADA consistently focuses on a multi-pillar strategy of generics and branded products (OTC) with an increasingly international market orientation. The Group is the only independent generics producer in Germany. Worldwide, STADA is represented in more than 30 countries with more than 50 subsidiaries. Branded products such as Grippostad and Ladival are among the highest selling in their product categories in Germany. In financial year 2014, STADA achieved Group sales of Euro 2,062.2 million, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of Euro 431.9 million and adjusted net income of Euro 186.2 million. As of December 31, 2014, STADA employed 10,363 people worldwide.