STADA on Aussie shores
March 28, 2012
GERMAN healthcare giant, STADA
Arzneimittel AG, has announced
the establishment of an Aussie
wing, Sydney-based STADA
Pharmaceuticals Australia Pty Ltd.
Expected to commence
operations in the third quarter of
2012, the subsidiary’s activities are
being financed with initial
investment from the STADA Group
of around $2 million.
“By founding the new subsidiary,
STADA 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,” a
statement from the company said.
“In view of expiring patents from
the year 2012 to 2014 with sales at
current ex-factory prices in the
amount of approximately $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.
STADA Pharmaceuticals Australia
will be headed up by John
Montgomery and Mark Hurley as
Founders and Managing Directors.
Montgomery comes to the role
with over 30 years experience in
pharmaceuticals, having previously
served as CEO of Alphapharm
(1999-2010); Regional Director,
Merck Generics Asia Pacific;
President, Mylan Asia Pacific; and
General Manager of Pfizer
Established Products for
Australia/NZ.
Hurley has also spent over 30
years in the industry, in roles
including Executive Director,
VP Business Development &
Operations for Mylan Asia Pacific
and Director, Medical Sales and
Marketing.
“It’s exciting to be involved with
STADA in a new business at an
interesting and important time
for pharmaceuticals in Australia,”
said Montgomery.
“With the changes in the market
comes opportunity and with
the support of STADA, we plan to
capitalise on this,” Montgomery
added.
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