21 June 2019 - Deborah Wilkes
Stada has recruited Teva's Salvatore Butti as general manager of its Italian business with effect from 1 September 2019.
Butti will take over from Enrique Häusermann who has been with Stada for more than 20 years and will remain a member of the company's Italian Supervisory Board.
Stada said Butti had been senior director generics, OTC and portfolio at Teva Italia since 2013. Before joining Teva in 2009, he worked for Novartis Consumer Health, Recordati and Sanofi-Aventis in Italy.
Steffen Wagner, Stada's executive vice president European markets, pointed out that Italy was one of Stada's most important markets in Europe. Butti was an "experienced leader with a strong track record", said Wagner, adding that he was the "right person to further accelerate growth in Italy".
Stada's Italian business includes EuroGenerici and Crinos.
Stada's financial performance
Worldwide sales at Germany's Stada were EUR2.33 billion (USD2.65 billion) in 2018, representing a rise as reported of 1% compared to 2017. Adjusted for portfolio and currency changes, sales were up by 5% (click here to read the News story).
The Branded Products business generated 40.7% of this figure, but worldwide sales were down by 0.4% to EUR948 million.
The remaining 59.3% was generated by the Generics business, which reported sales up by 2% to EUR1.36 billion.
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