30 January 2012 - German generic medicines specialist Stada (ETR:SAZ) said on Friday it agreed to purchase a branded product portfolio for central Europe from Gruenenthal for EUR160m (USD211.4m), or EUR48m below the originally planned amount.

Stada has been pursuing the purchase since May 2011 but withdrew from the deal at the start of January. It now managed to finalise subsequent negotiations with the seller.

The payment and the completion of the transaction are scheduled for tomorrow. The portfolio will be consolidated in Stada as of 1 February.

On 30 December 2011, Stada concluded the purchase of a portfolio for eastern Europe and the Middle East from Gruenenthal. The total price of the two deals amounts to EUR312m, down from originally negotiated EUR360m.

(EUR1 = USD1.321)