Stada Arzneimittel : We are initiating coverage with Buy recommendations
STADA priced its new senior secured notes: - EUR 650m Long 5NC1.5 Fixed (Feb. 21, 2030); 5.625% (IPT: low 6%s). - EUR 600m 6NC1 FRN (Oct. 23, 2030); 3M EURIBOR+375bp (IPT: 3M EURIBOR+400-425bp). - We decided to include STADA in our full coverage and adopt the following credit opinion and recommendations. - Credit Opinion - Our credit opinion is stable. STADA is a robust asset during uncertain times, which achieved strong organic/inorganic growth and constant margin improvement over the la...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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