Stada On Growth Trail, And Set For SE Listing

German generics drugmaker Stada is to apply for a stock exchange listingwith a "modest" share offer scheme as it aims for expansion, mainly in other European countries. The share scheme is expected to raise about 100 million Deutschemarks ($56.4 million) for the company and will be used to expand Stada's market position.

Stada chairman Hartmut Retzlaff said it is envisaged that established brands would be acquired in the over-the-counter and generic drug areas, and suitable companies and licenses would be purchased.

Currently, Stada is working on 40 new products out of a total 65 substances with world markets sales volume of $38 billion, and whose patents expire in the period to 2000. Stada's sales are set to rise 20% to 405 million marks in 1997, with pretax profits turning out at between 22 million and 24 million marks.