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International sales activities
Denmark
The Danish sales company PharmaCoDane ApS, Copenhagen, has been a member of the STADA Group since 1998.
In Denmark, sales increased considerably in financial year 2010 applying the exchange rates of the previous year by 33% or in euro by 33% to EUR 34.4 million (previous year: EUR 25.9 million).
This development was based, among other things, on the acquisition of a portfolio consisting mainly of branded products of the Danish STADA subsidiary in January 2010, which has been consolidated in the Group since January 18, 2010. The sales contribution of these products in Denmark amounted to EUR 1.4 million in 2010.1) Adjusted sales in Denmark increased by 28% in 2010.
This pleasing sales development was also due to the parallel imports business activities, which is part of commercial business and is traditionally pursued by the local STADA sales company in Denmark. Sales from commercial business in Denmark increased by 23% to EUR 27.0 million (previous year: EUR 22.0 million) in 2010.
With generics, the Group generated sales of EUR 4.7 million in the Danish market in 2010 (previous year: EUR 2.8 million). This represents a share of local Group sales of 14% (previous year: 11%). With a market share in the amount of approx. 2.8% (previous year: approx. 2.3%), the local STADA subsidiary occupied position 9 in the Danish generics market in 2010.2)
Sales with branded products rose by 155% in Denmark in 2010 to EUR 2.8 million (previous year: EUR 1.1 million). This gave branded products a share of local sales of 8% (previous year: 4%).
Operating profitability in the Danish market in 2010 was, as planned, again below Group average, as local activities, as described above, predominantly include commercial business with the usual low margins.
In the first nine months of 2011 sales amounted in Denmark applying last year’s exchange rates as well as in euro unchanged at EUR 25.4 million (1-9/2010: EUR 25.4 million).
| 1) | The total sales contribution of the acquired portfolio amounted to EUR 2.0 million in financial year 2010. In addition to the sales in the Danish market, export sales were achieved with these products in the amount of EUR 0.6 million. |
| 2) | STADA estimate based on IMS Health data at ex-factory prices. |
