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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 2010, sales consolidated in Vietnam on a pro rata basis – generated in the scope of the joint venture with the local partner – recorded an increase of 18% applying the exchange rates of the previous year. Sales in euro increased by 16% to EUR 11.4 million (previous year: EUR 9.8 million).
In financial year 2010, STADA increased the shareholding in the Vietnamese pharmaceutical company Pymepharco Joint Stock Company from 11.2% to 23.7%.
In Vietnam, sales consolidated in the first nine months of 2011 on a pro rata basis – generated in the scope of a joint venture with a local partner – increased significantly by 28% applying the exchange rates of the previous year. In euro, sales increased by 10% to EUR 8.8 million (1-9/2010: EUR 8.0 million).
| 1) | Sales below EUR 0.05 million were rounded to EUR 0.0 million. |
