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International sales activities

Russia

In Russia STADA has its own sales companies as follows: OAO Nizhpharm¹⁾, Nizhny Novgorod, ZAO Makiz-Pharma¹⁾ , Moscow, ZAO Skopinpharm¹⁾, Ryazanskaya obl., OOO Hemofarm¹⁾, Obninsk and Grunenthal OOO, Moscow.

In Russia, the Group’s second most important national market according to sales, sales increased in the first quarter of 2012 by a strong 16% applying the exchange rate of the previous year. In euro, STADA recorded even more significant sales growth of 19% to EUR 64.8 million (1-3/2011: EUR 54.5 million), to which a positive currency effect of the Russian ruble also contributed.

With generics, the Group recorded strong sales growth 18% to EUR 28.0 million in Russia (1-3/2011: EUR 23.7 million), so that the share of STADA’s sales achieved in the Russian market amounted to 43% (1-3/2011: 44%). Sales of branded products rose significantly by 19% to EUR 36.3 million (1-3/2011: EUR 30.4 million). Branded products thus contributed 56% to STADA’s sales in Russia (1-3/2011: 56%).

In the first quarter of 2012, the Russian STADA subsidiary OAO Nizhpharm, Nizhny Novgorod, signed contracts for the purchase of the marketing rights for the nutritional supplements Vuka Vuka^®2) and Vuka Drive^®2), a further development of Vuka Vuka^® for Russia as well as Vuka Vuka^® for the so-called CIS countries (Commonwealth of Independent States). The purchase price totaled EUR 9.7 million.

Furthermore, in the first quarter of 2012 the Russian STADA subsidiary OAO Nizhpharm, Nizhny Novgorod, concluded contracts for the purchase of distribution rights for the branded product Tranexam^®3). The purchase price for the acquired rights, which only relate to Russia, amounted to EUR 40.0 million.

In financial year 2012, STADA expects further strong sales growth in local currency in Russia with operating profitability above Group average. The sales and earnings contributions of STADA’s business activities in Russia as well as at the Group level will remain significantly affected by the development of the currency relation of the Russian ruble to the euro.

1)	Bundled under the umbrella brand STADA CIS.
2)	Nutritional supplement (aphrodisiac).
3)	Active ingredient tranexamic acid, for the treatment of hypermenorrhea.

1)	Sales below EUR 0.05 million were rounded to EUR 0.0 million.

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