Germany’s Stada to separate its operations in Russia

Stada, a leading generic drug manufacturer, has initiated the process of separating its operations in Russia by establishing a distinct entity named Nizhpharm, according to the media reports. A representative from the German pharmaceutical firm confirmed that Nizhpharm will function with a degree of independence and autonomy.

When approached for comment, Stada opted not to respond to inquiries regarding the development.

Furthermore, sources knowledgeable about the situation indicate that the private equity stakeholders of Stada, known for its portfolio encompassing consumer healthcare items such as pain relievers and sun protection products, along with biosimilar and generic medications, are evaluating strategic options. These options reportedly include either divesting the company or initiating an initial public offering on the stock market.

(With Reuters inputs)