Stada Arzneimittel : Russian headache
Stada's spreads surged from end-February onwards in the wake of Russia's invasion of Ukraine. They have eased somewhat since March as Stada released solid FY and Q1 numbers but remain well above healthcare peers. We believe the risks associated with Russia are now well priced in. Given the nature of its activity and a decent degree of insulation, the Russian business is somewhat defensive, ensuring that it should continue to post positive numbers. Also, a worst-case scenario of a...Stada Arzneimittel is engaged in the development and marketing of products with off-patent active pharmaceutical ingredients in the health care and, in particular, in the pharmaceutical market. Generics is based on low pricing and/or a cross-product and cross-indication marketing concept while Branded Products focus on the specific product characteristics and, in particular, on the brand name of individual products. Co.'s business activities are divided into the four market regions of Germany, Central Europe, CIS / Eastern Europe and Asia & Pacific & Middle East / North Africa (MENA).
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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