28 June 2018 - Deborah Wilkes
Stada Arzneimittel has acquired the rights to Johnson & Johnson's Nizoral (ketoconazole) anti-dandruff shampoo in Europe, the Middle East and Africa (EMEA) for an undisclosed sum.
Claudio Albrecht, Stada's chief executive officer, said the transaction was one of the German company's "largest in recent years" and highlighted its "aspiration to be one of the leading providers of OTC products in Europe".
Johnson & Johnson has divested Nizoral to three buyers in four regions. UK-based Alliance Pharma has acquired Nizoral in the Asia-Pacific region for GBP60.0 million (USD79.2 million) (click here to read the News story), while US-based Kramer Laboratories has acquired Nizoral in North America and Latin America (click here to read the News story).
Albrecht said Nizoral strengthened Stada's position in the hair and scalp product category, where the company already offers the head-lice treatment Hedrin.
Nizoral was a "globally-established brand" that was "highly-recognised both by medical practitioners and customers", added Albrecht, noting there was "great potential for growth".
Sales and market share
Stada said Nizoral generated annual sales of around EUR33 million (USD38 million) in the EMEA region. More than 50% of sales came from Russia, Italy, the UK, Poland and the Middle East, noted the company.
"Nizoral's market share in the EMEA region is several times that of its nearest competitor," added Stada, "making it the clear market leader among medicated anti-dandruff shampoos."
In addition to Nizoral, the deal includes the local brands Fungarest, Ketoderm, Nizorelle, Nizoril, Oranozol, Terzolin and Triatop.
Nizoral cream for skin infections is part of the purchase in Italy and Denmark, but remains with Johnson & Johnson in all other countries.
Stada said Nizoral's active ingredient – ketoconazole – was the most frequently prescribed active ingredient for treating dandruff.
The company said ketoconazole distinguished Nizoral from purely cosmetic anti-dandruff shampoos, and made it substantially more effective for treating symptoms such as dandruff, redness and itchiness of the scalp and their causes.
Furthermore, Stada noted that Nizoral's "long duration of effectiveness – up to seven days – also makes it highly effective against persistent dandruff".
Stada has a three-pillar strategy focusing on generics, non-prescription OTC products and specialty pharmaceuticals including biosimilars.
The company generated sales of EUR2.26 billion in 2017, representing a rise of 6% adjusted for the impact of portfolio and currency changes. As reported, sales grew by 8% to EUR2.31 billion.
The Branded Products business recorded sales up by 11% as reported to EUR952 million.
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