Drug maker STADA says problems in Serbia weigh down on Q3 result.s.

By bne IntelliNews September 30, 2010
German drug maker STADA Arzneimittel AG said its Q3 earnings are burdened by problems in Serbia, where the customers of its subsidiary HemofarmVrsac cannot pay their debts, STADA said in a statement posted on its website. As a result of the liquidity problems of Serbian wholesalers, STADA said it expects one-off earnings burden worth about EUR 29.5mn before taxes in Q3. However, STADA'a management still considers the full-year target results achievable.

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