STADA, a pharmaceutical company, has announced its expansion into the consumer healthcare market in the Middle East and North Africa (MENA) region with the acquisition of FITO from LEO Pharma. FITO is a medical device based on the wheat extract Rigenase from Damor Farmaceutici in Italy. It is used for the dermatological treatment of burns, ulcers, wounds, and abrasions, with a high safety profile due to its herbal origin and ability to form a protective barrier against the external environment.
The acquisition includes the takeover of FITO’s existing business in various markets in the MENA region, including Egypt, Kuwait, Oman, Saudi Arabia, and the UAE. Other key markets where FITO will be available through STADA include Algeria, Bahrain, Iraq, Kenya, Lebanon, Libya, Mauritius, Morocco, Pakistan, Palestine, Qatar, Tunisia, and Yemen. This move will allow STADA to leverage its local marketing and sales capabilities to maximize the potential of the FITO brand and strengthen its position as a leading partner in consumer healthcare in the region.
STADA’s EVP Stephane Jacqmin Emerging Markets expressed excitement about the acquisition, stating that the company looks forward to utilizing its expertise in marketing and sales to further develop the FITO brand in the MENA region. This strategic move is expected to support STADA’s growth in the region and solidify its role as a preferred partner in the consumer healthcare sector. In addition to the acquisition of FITO, STADA MENA has also signed a supply and distribution agreement with Farmaceutici DAMOR S.p.A in Italy, further expanding its presence in the region.
Overall, STADA’s acquisition of FITO and partnership with Farmaceutici DAMOR S.p.A. demonstrates the company’s commitment to expanding its consumer healthcare business in the MENA region. Through strategic acquisitions and partnerships, STADA aims to strengthen its position as a key player in the market and provide innovative healthcare solutions to consumers in the region. The acquisition of FITO, a medical device with a strong brand presence in various MENA markets, is expected to contribute significantly to STADA’s growth and success in the region.
With its focus on leveraging local marketing and sales capabilities, STADA is well-positioned to maximize the potential of the FITO brand and establish itself as a trusted partner in consumer healthcare in the MENA region. By expanding its portfolio through strategic acquisitions and partnerships, STADA is poised to capture a larger share of the growing consumer healthcare market in the MENA region and provide innovative healthcare solutions to meet the needs of consumers in the region.
