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Stada says fourth-quarter adjusted net income slips 4 percent
March 29, 2017 / 5:56 AM / 8 months ago

Stada says fourth-quarter adjusted net income slips 4 percent

FRANKFURT (Reuters) - German drugmaker Stada (STAGn.DE), at the centre of a takeover battle between two private equity consortia, said fourth-quarter adjusted net income slipped 4 percent, revising lower preliminary unaudited results it posted earlier this month after fully taking into account a smaller acquisition.

The logo of the pharmaceutical company Stada Arzneimittel AG is pictured at its headquarters in Bad Vilbel near Frankfurt March 14, 2012. REUTERS/Alex Domanski

Stada, which also makes branded non-prescription treatments and diagnostic kits, said quarterly adjusted net income declined to 37.4 million euros (32.57 million pounds), down from 38.9 million a year earlier.

It had initially reported a figure of 44 million euros.

In its statement on Wednesday, Stada did not comment on the takeover bids. It is due to hold a press conference at 0730 GMT.

The German company confirmed its targets for 2017 and 2019.

Reporting by Ludwig Burger; Editing by Victoria Bryan

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