August 14, 2019 / 5:00 AM / 9 days ago

Germany's Stada is "very selective" on acquisitions, CEO says

FRANKFURT, Aug 14 (Reuters) - German generic drugmaker Stada will be careful about buying businesses and companies outright and will for now focus mainly on striking production and development deals with partners, its chief executive told Reuters.

“We are very selective but we take a look at everything,” said CEO Peter Goldschmidt, who took the helm a year ago, adding that Stada had strong organic growth and would prioritise partnerships.

The private equity-backed company on Wednesday reported an increase in adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of 13% to 295 million euros ($310.61 million) during the fist half-year.

Sales gained 11% to 1.26 billion euros in the same period. ($1 = 0.8950 euros) (Reporting by Ludwig Burger and Patricia Weiss, Editing by Tassilo Hummel)

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