STADA to expand in Oman after acquiring FITO from LEO Pharma
Published: 02:08 PM,Aug 25,2024 | EDITED : 06:08 PM,Aug 25,2024
The headquarters of STADA.
STADA, the German healthcare company that focuses on generics and specialty pharma, has acquired LEO Pharma and the existing FITO trademark in the GCC, North Africa, the Middle East and selected Asian Countries and will be expanding its base in Oman as well as in other countries.
The medical device is based on the wheat extract Rigenase (Damor Farmaceutici, Italy) and is indicated for the dermatological treatment of first- and second-degree burns, ulcers, wounds and abrasions. The herbal origin has a high safety profile and forms a protective barrier against the external environment.
Speaking to the Observer, Stephane Jacqmin, STADA EVP of Emerging Markets said that the acquisition includes the takeover of the existing business in the markets of, besides Oman, UAE, Kuwait, Egypt and Saudi Arabia while it has strong presence in countries like Algeria, Bahrain, Iraq, Kenya, Lebanon, Libya, Mauritius, Morocco, Pakistan, Palestine, Qatar, Tunisia and Yemen.
'We look forward to leveraging our local marketing and sales platform to develop the full potential of this strong brand in the many markets of the MENA region. This will strengthen STADA's role as the partner of choice in consumer healthcare and support our growth in this region,' adds Stephane Jacqmin.
He further said that in addition to this acquisition, STADA MENA has also entered into a supply and distribution agreement with Farmaceutici DAMOR S.p.A, Italy whcih will positively reflect on the healthcare medication being provided in Oman.
The medical device is based on the wheat extract Rigenase (Damor Farmaceutici, Italy) and is indicated for the dermatological treatment of first- and second-degree burns, ulcers, wounds and abrasions. The herbal origin has a high safety profile and forms a protective barrier against the external environment.
Speaking to the Observer, Stephane Jacqmin, STADA EVP of Emerging Markets said that the acquisition includes the takeover of the existing business in the markets of, besides Oman, UAE, Kuwait, Egypt and Saudi Arabia while it has strong presence in countries like Algeria, Bahrain, Iraq, Kenya, Lebanon, Libya, Mauritius, Morocco, Pakistan, Palestine, Qatar, Tunisia and Yemen.
'We look forward to leveraging our local marketing and sales platform to develop the full potential of this strong brand in the many markets of the MENA region. This will strengthen STADA's role as the partner of choice in consumer healthcare and support our growth in this region,' adds Stephane Jacqmin.
He further said that in addition to this acquisition, STADA MENA has also entered into a supply and distribution agreement with Farmaceutici DAMOR S.p.A, Italy whcih will positively reflect on the healthcare medication being provided in Oman.