The pharmaceutical company STADA is expanding 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 (Damor Farmaceutici, Italy) and is indicated for the dermatological treatment of first- and second-degree burns, ulcers, wounds and abrasions. The herbal origin has a high safety profile and forms a protective barrier against the external environment.
STADA Headquarter
The acquisition includes the takeover of the existing business in the markets of Egypt, Kuwait, Oman, Saudi Arabia and the United Arab Emirates. Other key markets are Algeria, Bahrain, Iraq, Kenya, Lebanon, Libya, Mauritius, Morocco, Pakistan, Palestine, Qatar, Tunisia and Yemen.
STADA EVP Stephane Jacqmin Emerging Markets, “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. This will strengthen STADAs role as the partner of choice in consumer healthcare and support our growth in the region.”
In addition to this acquisition, STADA MENA has also entered into a supply and distribution agreement with Farmaceutici DAMOR S.p.A, Italy.
About STADA Arzneimittel AG
STADA Arzneimittel AG is headquartered in Bad Vilbel, Germany. The company focuses on a three-pillar strategy consisting of consumer healthcare products, generics and specialty pharma. Worldwide, STADA Arzneimittel AG sells its products in approximately 115 countries. In financial year 2023, STADA achieved group sales of EUR 3,734.8 million and reported earnings before interest, taxes, depreciation and amortization (EBITDA) of EUR 802.1 million. As of 31 December 2023, STADA employed 11,667 people worldwide