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Sep 21, 2023 15:46 EEST
September 21 (SeeNews) - STADA Bulgaria, part of Germany-headquartered pharmaceutical company STADA Arzneimittel, expects its sales revenue to reach over 100 million levs ($54.7 million/51.1 million euro) in 2023, it said.
By the end of this year, STADA plans to introduce new over-the-counter products for headaches, sore throats, colds and flu to the market, the company said in a press release on Tuesday. The company's portfolio development over the next few years will also focus on biosimilar products.
Between August 2022 and July 2023, STADA Bulgaria booked a 20% annual increase in sales to some 52 million levs, selling up to 12 million products, a company representative said in an emailed response to a SeeNews enquiry.
Since 2020, when STADA acquired the local operations of Czech Republic-based healthcare company Walmark, the company's sales have trebled.
Additionally, the company's workforce has grown to over 110 employees from 40 in 2020. Looking ahead, STADA plans to create more than ten new positions next year to support its growth objectives.
Stada Arzneimittel is a pharmaceutical company based in Bad Vilbel, Germany, which specialises in the production of generic and over-the-counter drugs. It sells its products in over 120 countries and employs more than 13,000 people worldwide.
(1 euro = 1.95583 levs)
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