June 28, 2018 / 8:01 AM / 3 months ago

Stada buys rights to anti-dandruff shampoo Nizoral from J&J

MUNICH, June 28 (Reuters) - German generic drug maker Stada is buying the rights to anti-dandruff shampoo Nizoral from Johnson & Johnson's Janssen Pharmaceutica and could announce further product acquisitions soon, its interim chief executive told Reuters.

"I can imagine that we will announce another product deal before I leave," Claudio Albrecht told Reuters, two months before permanent CEO Peter Goldschmidt is due to take over the helm.

Stada, which is controlled by private equity firms Bain and Cinven, said financial details of the deal were confidential.

A person familiar with the deal said Stada was paying more than 200 million euros ($231 million) for the rights to Nizoral, sold under the brand name Terzolin in German pharmacies.

That compares with sales of around 33 million euros in the EMEA region in 2017.

Albrecht also reiterated that Stada aimed to reclaim the rights to a number of its products, following the early termination in January of its license agreement with Sanofi for head lice lotion Hedrin.

"We want to buy back (sun cream) Ladival. We are in good talks about that," he said.

In addition, Stada is looking for opportunities to take over entire companies to strengthen its generic drug business in countries including Poland, Slovakia and Hungary.

He added that Stada also needed a larger presence in the generics business in Britain. ($1 = 0.8669 euros) (Reporting by Alexander Huebner Writing by Maria Sheahan Editing by Victoria Bryan)

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