German Drug Firm STADA Arzneimittel AG (STAGn.DE)'s Failed Russian Forays  
3/15/2012 8:04:10 AM

German generic drugmaker Stada, under pressure to curb its reliance on a weakening home market, embarked on two takeover attempts in Russia over the last two years but failed both times following months of exclusive talks. After deciding against a merger with Russia's largest drugmaker Pharmstandard in 2010, the German company opted out of acquiring unlisted firm Valenta a year ago, several people familiar with the matter told Reuters. The misadventures, which have not been made public until now, suggest Stada may be left behind in a global generics industry that is racing to achieve economies of scale. They also raise questions as to whether its management is too cautious in pursuing opportunities in emerging markets.