STADA at a Glance
Sales companies
Sales companies Germany
Vietnam
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International sales activities
Vietnam
In Vietnam, the local STADA sales company, STADA Vietnam J.V. Co., Ltd. in Ho-Chi-Minh-City, continues to operate within the framework of a 50:50 joint venture (JV) with a local partner, MST Trading Pharmaceutical Company Limited.
In Vietnam, sales consolidated on a pro rata basis – generated in the scope of a 50:50 joint venture with a local partner – decreased by 5% applying the exchange rates of the previous year. In euro, sales decreased by 5% to EUR 3.1 million (1-3/2011: EUR 3.2 million). In China, sales decreased by 4% applying the exchange rates of the previous year. In euro, STADA recorded growth in sales of 1% to EUR 1.2 million (1-3/2011: EUR 1.2 million).
From the end of December 2011, authorities in Vietnam were investigating whether the Vietnamese joint venture may have violated specific export regulations in the export of local OTC products to Papua New Guinea. An internal analysis of these commercially insignificant export activities with the inclusion of the Compliance and Internal Auditing corporate departments in the first quarter of 2012, however, did not reveal any noteworthy violations. In the current second quarter of 2012, Vietnamese authorities informed the joint venture that the investigations had been discontinued.
