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Thornton & Ross parent reports double-digit growth

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Thornton & Ross parent reports double-digit growth

Stada, the Germany-based pharmaceutical company that owns UK manufacturer Thornton & Ross, has reported double-digit growth during the 2023 calendar year, with Europe-wide sales up by 14 per cent to €3.73 billion (£3.18bn).

Publishing its latest annual report yesterday (March 14), Stada said it had “maintained its growth momentum” in 2023 and seen growth across “all product segments and all geographic regions” in which it conducts business.

This growth was primarily driven by its consumer health business, which provided 40 per cent of group sales and rose 17 per cent year-on-year to €1.49 billion (£1.27bn). Recent consumer health acquisitions include Antistax, Lomudal, Omnivit and Opticrom, which it bought from Sanofi in July last year.

Meanwhile, generics sales rose by six per cent to €1.50 billion (£1.28bn) and ‘specialty’ sales for products such as biosimilars rose by 25 per cent to €749 million (£640m).

In his foreword to the report, Stada CEO Peter Goldschmidt said: “I am immensely proud of the group’s outstanding performance in 2023.

“Against a backdrop of geopolitical conflicts and economic challenges, we were able to maintain our double-digit growth trend based on our unique culture.”

Commenting on the company’s UK performance, a spokesperson said: “In the UK, Stada performed broadly in line with the group sales performance in 2023. 

“In the consumer healthcare sector, Stada's UK affiliate Thornton & Ross continued to innovate around well-established brands with line extensions such as Cetraben Pro-Hydrate 5 and Oilatum Sweet Dreams head-to-toe wash. Furthermore, the acquisition of Opticrom eye drops showed the company’s commitment to Pharmacy brands.

“Stada continued to build out its generics offering in the UK during 2023, not least by launching the high-volume cardiovascular blockbuster apixaban. At the same time, the company expanded its presence in niche specialty pharmaceuticals, in part through biologic therapies such as ranibizumab.

“Towards the end of last year, the UK’s NICE agency recommended Kinpeygo, the first treatment approved in the EU for the rare and debilitating kidney disease IgA nephropathy, for use within the country’s National Health Service. Stada UK intends to launch these budesonide modified-release capsules within the next few months.”

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