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Stada Posts Loss on Serbia Writedowns, Lower German Sales

Stada Arzneimittel AG, a generic-drug maker, reported a loss for the first nine months of the year due to writedowns at its Serbian business and increased competition in Germany.

The net loss was 6.5 million euros ($8.8 million) compared with a profit of 38.8 million a year earlier, the Bad Vilbel, Germany-based company said today in an e-mailed statement. The company took a 96.9 million-euro writedown before taxes during the quarter for unpaid bills from the Serbian business.