STADA Arzneimittel AG (STDAF.PK, STDAY.PK) said in the current first quarter of 2012, it founded a subsidiary based in Sydney, Australia, under the name STADA Pharmaceuticals Australia Pty Ltd, which is expected to begin its business activities in the third quarter of 2012.
The company stated that by finding the new subsidiary, it would like to benefit from the growth opportunities available in the Australian generics market as well as further expand its presence in the growth region Asia/Pacific.
According to STADA Arzneimittel, in view of expiring patents from the year 2012 to 2014 with sales at current ex-factory prices in the amount of around A$ 2.1 billion, high growth is expected in the Australian generics market. Further growth opportunities are also emerging as a result of the current relatively low generics penetration of less than 40% in Australia, the company added.
by RTTNews Staff Writer
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