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Stada Dropped Two Takeover Attempts in Russia, Reuters Reports

Stada Arzneimittel AG (SAZ) failed in two takeover attempts in Russia over the last two years after months of exclusive talks, Reuters reported, citing unidentified people familiar with the negotiations.

The German drugmaker in 2010 dropped a potential merger with Russia’s OAO Pharmstandard (PHST) and a year ago decided against buying Valenta in a deal valued at about $400 million, Reuters said. Stada declined to comment, the news service said.

To contact the reporter on this story: Cornelius Rahn in Frankfurt at crahn2@bloomberg.net

To contact the editor responsible for this story: Kenneth Wong at kwong11@bloomberg.net

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