As one of the few pharma companies in the Czech Republic to offer products across the whole healthcare spectrum, including prescription drugs, generics, over-the-counter (OTC) treatments, and food supplements, the 125-year-old German firm STADA has established a strong Czech affiliate in recent times.
The beauty of STADA is that we are almost in every segment to reach the patient and their needs
“I have been building more in the past few months than I have in the past few years” exclaims executive director of STADA Czech Republic, Tomáš Mihál, who only joined the company less than a year ago. This is not only because the local entity took over Grünenthal’s portfolio in 2012, making them the absolute leader in pain treatment, but also thanks to the recent acquisition of Czech player Walmark, which was finalized in early March 2020.
Walmark, established locally in 1990, was one of the biggest manufacturers in the Czech Republic and a leading manufacturer of consumer health products in Central Europe. “Through this acquisition, we will increase our local sales by 30 percent and improve our footprint in the country, especially in the consumer healthcare segment, and no doubt our market value will grow” declares Mihál.
Walmark’s unique portfolio of well-established consumer health brands across multiple categories, including vitamins and minerals, children’s health, women’s health, men’s health, joint care, digestive and intestinal, and cough and cold aims to complement STADA’s existing product portfolio. “The beauty of STADA is that we are almost in every segment to reach the patient and their needs,” he adds.
Not only does STADA work in consumer healthcare but it is also quick to offer the Czech healthcare system cheaper alternatives in the form of biosimilars. Mihál explains that “if health funds are looking for savings, then biosimilars can be an answer. More and more stakeholders will inevitably welcome the use of biosimilars.” Against this backdrop, STADA plans to launch eight more biosimilars in the Czech Republic over the coming years. Moreover, as generics are already very affordable in the country, Mihál believes that “it is important to find the right balance between having reliable supply, high quality and also affordable medicines.”
Looking forward, the main challenge for STADA will be establishing synergies between the two companies, especially at a local level since the Czech Republic remains the epicentre of the acquisition. Approaching this with the greatest of respects for Walmark, Mihál states that “STADA has always been well in tune with its values, which are: One STADA, ensuring everyone works together; Integrity, meaning to work in a way that makes sense ethically, both internally and externally; Entrepreneurship, which focuses on doing things differently, if it makes sense for the business; and Agility” and he hopes to see a continuity of business during the integration, keeping these values in mind as “we aim to unite both teams responsibly so we live these values day to day.”
With 2020 set to be another exciting year for the company, Mihál concludes that “STADA is on a trajectory of growth that is proving itself by our work and is based on our culture and values.”