BAD VILBEL (dpa-AFX) - German pharmaceutical company STADA Arzneimittel AG (STDAY.PK, STDAF.PK) and Ladival GmbH & Co KG have agreed to transfer the rights for the sunscreen Ladival back to STADA with immediate effect. The two companies agreed to maintain confidentiality with regard to the financial conditions of the transaction.
STADA sold the rights to Ladival GmbH & Co KG in 2013, with the former company distributing the product to German pharmacies as the licensee ever since.
'Following in-depth, positive negotiations, we agreed that STADA would repurchase the rights to Ladival with immediate effect and not at the end of 2021 as originally contractually agreed,' explained STADA CEO Claudio Albrecht and Ingo Sohngen, Managing Director of Ladival GmbH & Co KG, in a joint statement.
For Albrecht, the repurchase of Ladival represents another milestone in the future orientation of STADA.
Ladival GmbH & Co KG also said it sees the negotiations as having had a successful outcome.
Copyright RTT News/dpa-AFX