Stada Arzneimittel has reported adjusted net income of €53.3 million for the first quarter of 2017 which is 33% increase compared to last years net income of €40.1 million.
Dr. Matthias Wiedenfels, Chairman of the Executive Board at STADA commented: “We have made a good start in the first quarter of 2017 and significantly increased both sales and all reported and adjusted key earnings figures. Thus, we are on track to reach the guidance for the current financial year.”
Stada has announced earlier today that its Executive Board and Supervisory Board has recommend acceptance of the voluntary public takeover offer by Bain Capital and Cinven.
“The takeover offer from Bain Capital and Cinven reflects Stada’s promising growth prospects. Together with the two investors, we can implement our recognized strategy even more swiftly, continue to grow profitably and so ensure a long and successful future for Stada. The concluded investor agreement also safeguards sites and jobs and so the interests of our employees,” said Dr. Wiedenfels commenting Board’s recommendation. “The attractive offer price also shows that we have created significant added value for our shareholders in the course of the bidding process over the past months. We therefore recommend that our shareholders accept the takeover offer.”
Chairman of the Supervisory Board of Stada, Ferdinand Oetker, recommending to shareholders to accept the takeover offer, said that they were able to reach a fair price with a good premium for shareholders which shows that Bain Capital and Cinven are also convinced of the potential of Stada.