STADA Arzneimittel AG, one of the largest international pharmaceutical companies in Europe, summed up the results of the first year of operation in the country after the incorporation of STADA Azerbaijan LLP in January 2023.
STADA is ranked number one in the market of OTC (over-the-counter) drugs. The company is also one of the three leaders of the pharmaceutical market in Azerbaijan.
The most popular and in-demand STADA products in the country are: Cardiomagnyl, Snoop, Calcium D3, Aqualor, Essentiale, Ringer, No-shpa, Guttalax, Magne B6, Enterogermina, Lazolvan, Baralgin.
Incorporation of STADA in Azerbaijan
In 2023, STADA, one of the first international pharmaceutical companies in the market of Azerbaijan, incorporated a full-fledged legal entity directly from STADA AG. This demonstrates STADA's commitment to Azerbaijan and importance of the country's role in expanding STADA's business in the region. The company highly appreciates the government's efforts to improve people's health, including those aimed at increasing the accessibility of high-quality and effective medical care to the population.
STADA believes that the market will actively grow as the country's healthcare infrastructure is improved and insurance medicine is introduced.
"According to our forecasts, the market for packaged medicines in 2024 will increase by 7% compared to 2023. We expect an increase in over-the-counter medications, vitamins and dietary supplements. Growth in the hospital sector should also be expected, as the government pays attention to providing the health system with the full range of necessary medicines. First of all, these are medicines for the treatment of cancer, diabetes mellitus and rare diseases. It is important that the country has introduced a procedure for accelerated registration of drugs from developed countries, the registration of which we trust," comments Farah Sadikhova, Director of STADA in Azerbaijan
Outcome of the First Year of the Sanofi Portfolio Distribution Agreement
In 2023, STADA and Sanofi signed an agreement on distribution of the CHC product portfolio in some Eurasian countries, including Azerbaijan. STADA distributes and provides marketing support for Sanofi's drug portfolio, consisting of well-known brands of consumer healthcare in 10 Eurasia countries. In April 2024, the results of the first year of cooperation will be summed up, but already both sides of the deal are satisfied with the result.
The agreement includes 19 products that have proven themselves well in the Eurasian markets which are trusted by consumers, including: Essentiale and Enterogermina (digestive health), Magne B6 (magnesium preparation), Lazolvan (anti-cold agents), No-shpa (antispasmodic agent), Festal, Baralgin, etc.
"This cooperation has made STADA the undisputed CHC leader in the Eurasia region. We have almost doubled in size and have become the No. 1 company in a number of countries in the region. CHC is one of the three key areas of the company's work together with generics and specialty medicines," said Arminas Macevicius, Vice President of the Eurasia Region, STADA.
About the Company
STADA is an international pharmaceutical company that has been following its mission for more than 125 years - to take care of people's health by building trusting relationships with partners and consumers. STADA's key areas are Consumer Healthcare (CHC) products, generics and specialty drugs (including biosimilars). STADA products are represented in 120 countries, including Azerbaijan.
In 2022, the CIS region became an independent business unit and was renamed as Eurasia with direct subordination to the headquarters in Germany. The company has also incorporated STADA Arzneimittel AG in most countries of the region, including Azerbaijan (STADA Azerbaijan LLC).
Since April 01, 2023, STADA represents Sanofi’s portfolio of over-the-counter drugs in the Eurasia region. There are about 500 employees in STADA of the Eurasia region.
More about:
