STADA Arzneimittel AG

One of the worldwide leading players in generics

with increasing share of sales in emerging markets and
focus on cost efficiency

Please note the legal information at the beginning of the presentation. Version A
 Disclaimer
General information:
By making use of this document the reader acknowledges and agrees to the following: We accept no liability arising from the use of this
document. STADA Arzneimittel AG, Bad Vilbel (in the following “STADA”), has made every effort to make sure that this document contains
correct and up-to-date information. However, it accepts no responsibility or guarantee whatsoever in respect of topicality, accuracy and
completeness of the information and assumes no obligation to update, complete or correct the information contained therein. The anticipated
opportunities and risks to STADA’s activities have been described in detail in the Executive Board’s management reports in the annual reports.
Current possible opportunities and risks are mentioned in the respective interim report. STADA’s performance indicators are party influenced by
one-time special effects and/or effects not arising from the operating business. Disclosure of key figures adjusted for these effects (so called
“pro forma” key figures) by STADA is only to provide a supplement to the recorded IFRS key figures for a transparent comparison to a relevant
period from the previous year. All text, pictures, trademarks, and other information contained in this document are subject to the copyright of
STADA or subject to rights acquired from third parties. Trademark protection may apply even for preparations not indicated as trade marks.
This document may not be reproduced in whole or in part without the express written consent of STADA. Any disputes arising out of or in
connection with the content of this document, insofar as they are directed against STADA, shall be subject to German law, without prejudice to
mandatory provisions of foreign law. The place of jurisdiction is Frankfurt am Main to the extent legally permissible .

Forward-looking statements:
This STADA Arzneimittel AG presentation (subsequently "STADA") contains certain statements regarding future events (as understood in the
U.S. Private Securities Litigation Reform Act of 1995) that express the beliefs and expectations of management. Such statements are based on
current expectations, estimates and forecasts on the part of company management and imply various known and unknown risks and
uncertainties, which may result in actual earnings, the financial situation, growth or performance to be materially different from the estimates
expressed or implied in the forward-looking statements. Statements with respect to the future are characterized by the use of words such as
“expect”, “intend”, “plan”, “anticipate”, “believe”, “estimate” and similar terms. STADA is of the opinion that the expectations reflected in forward-
looking statements are appropriate; however, it cannot guarantee that these expectations will actually materialize. Risk factors include in
particular: The influence of regulation of the pharmaceutical industry; the difficulty in making predictions concerning approvals by the regulatory
authorities and other supervisory agencies; the regulatory environment and changes in the health-care policy and in the health care system of
various countries; acceptance of and demand for new drugs and new therapies; the influence of competitive products and prices; the availability
and costs of the active ingredients used in the production of pharmaceutical products; uncertainty concerning market acceptance when
innovative products are introduced, presently being sold or under development; the effect of changes in the customer structure; dependence on
strategic alliances; exchange rate and interest rate fluctuations, operating results, as well as other factors detailed in the annual reports and in
other Company statements. STADA not assume any obligation to update these forward-looking statements or adapt them to future events and
developments.

Corporate Presentation  November 2010 (A) www.stada.com page 2

 STADA – assets and strategy

Worldwide leading generics company with traditional strong position in Europe

Comprehensive generics portfolio supplemented with highly profitable

branded products business

Strategic Broad international sales structure with local spirit

success factors Flexibility through lean decision structures

Efficient cost management

M&A activities with focus on emerging markets

Corporate Presentation  November 2010 (A) www.stada.com page 3

 STADA introduction

Please note the legal information at the beginning of the presentation. Version A
 Milestones in the STADA history
1895 Founded in Dresden as a pharmacists'
cooperative
1970 Stock corporation with restricted
registered common shares only for
pharmacists
1975 Market entry in the starting generics
market
1986 Beginning of internationalization
1998 Starting trading at the stock exchange
2001 Included in MDAX on July 23, 2001
2004 Start in Eastern Europe: Acquisition of
Nizhpharm, Russia
2006 Expansion in Eastern Europe:
Acquisition of Hemofarm Group, Serbia
2010 As of Sept. 30, 2010
Enterprise value1): € 2.1 billion
Employees: approx. 8,000
Shareholder structure: approx. 14%
pharmacists and doctors

1) Market cap (09/30/2010): € 1,239.9 million + net debt (09/30/2010):

€ 879.1 million.

Corporate Presentation  November 2010 (A) www.stada.com page 5

 STADA today

Sales 2009 Belgium Position 1

Pos. Company in € million
01 Teva/ratiopharm (ISR) 11,3261) Serbia Position 1
02 Sandoz2) 5,293
03 Mylan (USA) 3,561 Russia Position 27)
04 Watson (USA) 1,953
05 STADA 1,569 Germany Position 3
06 Actavis (ISL) n.a.3)
07 Hospira5) 1,112 Italy Position 3
08 Dr. Reddy s 1,1024)
Spain Position 3
09 Ranbaxy 1,098
10 Sanofi-aventis5) 1,012
11 Gedeon Richter 980
12 Krka (SLO) 953
13 Cipla 8414)
14 Par 772
15 Aspen 666

Data source: Annual Report. Currency calculation as of Dec. 30, 2009.

1) Pro forma sales of the combined company, Teva press release as of March
18, 2010.
2) Part of the Novartis Group.
3) Position 6 of Actavis is based on STADA estimates.
4) Based on calendar year instead of fiscal year.
5) Generics only.
7) Local supplier/producer.

Corporate Presentation  November 2010 (A) www.stada.com page 6

 Broad international sales structure –
active in more than 80 countries

Increasing share of sales

in emerging markets

Corporate Presentation  November 2010 (A) www.stada.com page 7

 STADA growth perspectives

Please note the legal information at the beginning of the presentation. Version A
 Roadmap

Organic Group development
based on proven success factors:
 Positioned in growth markets
 Strong product development
2009
 Group sales: approx. € 1.57
billion
 EBITDA: approx. € 280 million
 Net income: approx. € 100 million
2014
 Group sales: approx. € 2.15
billion
 EBITDA: approx. € 430 million
 Net income: approx. € 215 million
Assumptions/framework

+
 Broad international sales
 Investments BtF until 2013
infrastructure

+
„STADA approx. € 20 million
 Continuous cost optimization
„STADA ––
build
build the
the future“
future“  Expenses BtF (one-time special
 Cautious acquisition policy (BtF) effects) until 2013 approx. € 50
(BtF) until 2013
bis 2013
million
 Forecast range +/- 5%

Additional assumptions: largely

organic growth, without consideration of
one-time special effects, continuation of
the current currency parities, the current
interest rate level, as well as the current
framework conditions in the markets
relevant for STADA.

Corporate Presentation  November 2010 (A) www.stada.com page 9

 Environment analysis
Growth markets health care & pharma Growth opportunities for generics
 Global population growth  Progressive generics penetration
 Aging society in industrialized countries
 Above average growth in emerging markets  Continuous patent expirations
 Medical progress  Prognosis for world generics market
 Prognosis world pharmaceuticals 2010-2014: up to +9% p.a.2)
market 2010-2014: 5% to 8% p.a.1)
Growth
opportunities
despite challenges
and risks

Specific challenges3), including Additional risiks3) due to global financial

 Government regulation and economic crisis, including
 Intense competition  Increased regulatory pressure
 Significant margin pressure  Increased currency volatility
 Increased default risks

1) IMS MIDAS Dec. 2009; IMS Generic Market Prognosis, June 2009; IMS Thought Leadership analysis prepared for STADA, Dec. 2009.
2) IMS Generic Market Prognosis, June 2009; IMS Thought Leadership analysis prepared for STADA, Dec. 2009. The market data on generics fluctuate (in some
cases substantially) due to differing market definitions from source to source.
3) Business risks and consequences of the global financial and economic crisis are described in detail in the annual report 2009, particularly in the risk report.

Corporate Presentation  November 2010 (A) www.stada.com page 10

 Growth market Russia
Development of the Russian pharmaceutical market (2005-2014 in billion ruble)
332
298
263 298

230 261
242
203 235
227
179 211 206
159 184 185
168
122 131 156
137 153
93 128
105
89
86 86 RX Generics OTC
72
59

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

The Russian market has an estimated value TOTAL MARKET: 12.0% CAGR
of ruble 555 billion in 2010. Generics: 13.2% CAGR
Above average growth rates with 12% p.a. OTC: 9.6% CAGR
between 2010 and 2014 expected
RX: 12.8% CAGR
(in comparision 10.5% India, 11.9% China).

Source: BMI, Broker Research.

Corporate Presentation  November 2010 (A) www.stada.com page 11

 Growth driver patent expiry
Sales potential having become or becoming available  Total volume GER, UK, F, I (54% of EU
for generic competition in billion €
population) for 2010-2013 (at current prices and
GER, UK, F, I volumes):
5.3
4.2 > € 15 billion
3.2
2.3

2010 2011 2012 2013

GER
1.3  Total volume Germany 2010-2013 (at current
1.1 1.0 prices and volumes):
0.7 > € 4 billion

2010 2011 2012 2013

Source: STADA estimate of sales volumes in MAT/3/2010 at ex-factory prices.

Corporate Presentation  November 2010 (A) www.stada.com page 12

 Strong product development

Newly launched products* in the STADA Group  Unchanged full pipeline:

 Planning horizon: beyond the year 2015
 Submission horizon for approvals of EU-wide
Group significance: > 3 years
 Current approval procedures: > 140 active
ingredients worldwide for > 50 countries1)
483 486  Increased share of newly launched products
424 442
in Group sales of 9% within the previous 2 fiscal
335 years (2008: 8%)
331
 Biosimilars development via BIOCEUTICALS2)
 Erythropoetin (Epo-zeta)
Expansion of approval for s.c. application in the
area of nephrology
 Monoclonal antibodies
Preparatory work for the development has begun
2006 2007 2008 2009 1-9/2009 1-9/2010 in Q1/2009; STADA is currently reviewing various
financing models and in-licensing alternatively;
*Counted as individual products launched in individual national markets i.e.
new API´s, dosage strengths and application forms (except different pack decision expected in 2010
sizes).

1)As of Dec. 2009.

2) ViaBIOCEUTICALS Arzneimittel AG: predominantly financed via venture capital; STADA share 15.86%; STADA continues to hold a call option to acquire all shares
in BIOCEUTICALS (exercisable annually from 2011).

Corporate Presentation  November 2010 (A) www.stada.com page 13

 Continuous cost optimization
Share of  Optimization of procurement costs:
production  Global sourcing
Own Production sites volume 2009
 Stronger involvement of suppliers in market
Western Europe ~ 34% price risk
Bad Vilbel (Germany)  Increased in-house developments
Pfaffenhofen (Germany)
Clonmel (Ireland)  Optimization of pharmaceutical production:
 Efficiency improvement
 Production allocation by means of transfer
Eastern Europe ~ 56% program to own plants in low-cost countries
Vrsac (Serbia)  Use of economy of scale effects
Sabac (Serbia)
Dubovac (Serbia)  Declining cost of sales ratio:
Banja Luka (Bosnia-Herzegovina)  Economy of scale effects for product launches
Podgorica (Montenegro)
Nizhny Novgorod (Russia)  Goal: cost optimization ≥ price erosion
Obninsk (Russia) (price erosion 2009: > 5% of Group sales)
Moscow (Russia)
Ryazanskaya (Russia)

Asien ~ 10%
Ho Chi Minh City (Vietnam; 50% JV)
Beijing (China; only locally)

Sites which outside of the EU have been oriented at least partly to the production of individual product for the EU or which have been approved by EU
authorities after local auditing.

Corporate Presentation  November 2010 (A) www.stada.com page 14

 Longstanding internal & external growth
Sales in € million Britannia
Pharmaceuticals
Acquisition (UK)
Forum Products
Deconsolidation (UK)

MAKIZ
(Russia)

Hemofarm 1,646
(Serbia) 1,571 1,569
Nizhpharm
Crinos (Russia) 1,245
(Italy) Sales
Bayvit
1,022 growth
Clonmel (Spain)
814 adjusted1)
Healthcare
(Ireland)
745 2009: +4%
634
538
467

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

1) Adjusted for changes in the Group portfolio as well as from currency effects.

Corporate Presentation  November 2010 (A) www.stada.com page 15

 „STADA – build the future“

„Build the future“

for the sustained improvement
of success structures

Acceleration of
Reduction of More efficient
continuous cost
complex Group centralized control
optimization
structures of Group
Focus: Cost of sales
companies
Production sites

Organizational structures

Personnal/reporting structures

Corporate Presentation  November 2010 (A) www.stada.com page 16

 Consistent execution „STADA –
build the future“

3rd quarter

 Transfer of the packaging unit Etten-Leur

 Access to capacities during the transition period at defined conditions
 113 full-time employees (142 employees by headcount) and the assets in
the amount of € 0.7 million passed to the acquiring company
 Restructuring of branded products sales force in Italy, cutback targeted
 One-time special effect within the scope of project planning for „STADA –
build the future“ of € 15.2 million before, € 13.0 million after taxes in total

4th quarter

 Since Oct. 1, 2010 new functional reporting lines & organizational structures
Foreign subsidiaries with direct reporting lines to the corporate headquarter.
More transparent and faster decision making processes
 Further measures planned

Corporate Presentation  November 2010 (A) www.stada.com page 17

 1-9/2010 Highlights

Please note the legal information at the beginning of the presentation. Version A
 Highlights 1-9/2010

 Group sales: +3%

 EBITDA adjusted1): +12%
 EPS adjusted1): +8%
 Burdening one-time special effects of € 63.1 million before or € 53.6
million after taxes
 Free cash flow +9% – net debt further reduced to € 879.1 million
 Outlook 2010 reiterated

 Developments in the current fourth quarter:

 Consistent execution of “STADA – build the future”, new functional
reporting lines and organizational structures in the scope of „STADA –
build the future” since Oct. 1, 2010
 New management and new business policy in Serbia

1) Adjusted for one-time special effects as well as effects from currency influences and interest rate hedge transactions.

Corporate Presentation  November 2010 (A) www.stada.com page 19

 Sales development 1-9/2010

Sales in € million  Sales increase by +3.4%

 Portfolio Effect:
+1.2% points, Acquisition EUNOVA Multi-Vitalstoffe,
the purchase in Denmark of branded products and of
the MIR product portfolio in Russia, sales with
+1.9% +1.2% +0.3% +3.4% transferred Dutch packaging unit
1,177.8
1,138.5  Currency effect:
+0.3% points, appreciation of the Russian ruble,
which more than compensated for devaluation of the
Serbian dinar

 Adjusted1) sales growth +1.9%

1-9/2009 Organic1) Portfolio Currency 1-9/2010

1) Adjusted for changes in the Group portfolio as well as currency effects.

Corporate Presentation  November 2010 (A) www.stada.com page 20

 Sales by segment & region 1-9/2010

By segment By region
Core segments € 1,127.1 million Total Group € 1,177.8 million
+3%, (+2%) +3%, (+2%)

Generics € 815.7 million Western Europe € 852.1 million

0%, (0%) +3%, (+2%)

Branded Products € 311.4 million Eastern Europe € 270.0 million

69.3% +12%, (+6%) +1%, (-1%)
72.3%
Commercial business € 44.4 million Asia € 39.7 million
+20%, (+21%) +23%, (+18%)

Group holding/Other € 6.3 million Rest of world € 16.0 million

0%, (-46%) +21%, (+19%)

26.4% 22.9%

3.8% 0.5% 3.4% 1.4%

() = Adjusted for sales contributions from acquisitions and disposals as well as currency effects.

Corporate Presentation  November 2010 (A) www.stada.com page 21

 STADA – top national markets 1-9/2010

Sales Share of Δ vs.

in € million 1-9/2010 total sales 1-9/2009 in % CER1) in %

Germany 392.7 33% -4

Russia 156.0 13% +22 +16

Italy 99.9 8% +20

Belgium 99.1 8% +10

Spain 61.8 5% +10

France 57.0 5% -3

Serbia 52.7 4% -33 -27

1) CER: In constant exchange rates.

Corporate Presentation  November 2010 (A) www.stada.com page 22

 Regulatory environment & outlook 2010
2010E
2010E1)Sales Operating
development profitability Environment

Germany  +(+) Health care reform 2011 with moderate upside potential

Russia  +++ Strong development despite of price registration

Increasing generics penetration, restricted discounts to the

Italy  ++
distribution channels, price reduction August 2010

Belgium  ++ Positive regulatory environment

Increasing generics penetration, limit of discounts to the

Spain  +
distribution channels, price reduction April 2010

France  + Strong competition, high discounts

Liquidity problems of wholesaler, restructuring plan was

Serbia  ++(+)2)
signed3)

+++ = above operating Group margin

++ = in the area of Group margin
1) 2010E: Today´s STADA expectation for fiscal year 2010. + = below Group margin
2) In the scope of the Hemofarm subgroup. o = break-even
3) Between Hemofarm and Velefarm (see the ad hoc release as of Sept. 28, 2010). - = operating loss

Corporate Presentation  November 2010 (A) www.stada.com page 23

 Restructuring Serbia

Q1/2010 Q2/2010 Q3/2010 Q4/2010

Sales in € million  New management

 Special project for
cost structure
Hemofarm1)
Deliberate avoidance of sales possible  Restructuring
clearly in double-digit EUR million area wholesaler
due to liquidity problems of a Serbian  New distribution
model
wholesaler

Expected
21.3
16.9 recovery of the
14.5
Serbian business

1) Local subgroup Hemofarm.

Corporate Presentation  November 2010 (A) www.stada.com page 24

 EBITDA & operating profit 1-9/2010
EBITDA Operating profit
reported adjusted1) reported adjusted1)

+12% +15%
-4% 224.2 165.6
200.4 -19%
143.5
190.2 182.9 129.1
104.9

1-9/2009 1-9/2010 1-9/2009 1-9/2010 1-9/2009 1-9/2010 1-9/2009 1-9/2010

Margin Margin
16.7% 15.5% 17.6% 19.0% 11.3% 8.9% 12.6% 14.1%

 Underlying business clearly improved, adjusted operating margins expanded; reported operating
profit burdened by one-time special effects of € 60.7 million in 1-9/2010

1) Adjusted for one-time special effects as well as effects from currency influences and interest rate hedge transactions.

Corporate Presentation  November 2010 (A) www.stada.com page 25

 Operating profit 1-9/2010

in € million 1-9/2010 Reconciliation of reported and adjusted operating profit

reported 104.9

+10.4 Unscheduled amortization net of write-ups on intangible assets after

impairment tests
+16.7 Expenses in connection with „STADA – build the future“

+34.3 Primarily value adjustments on receivables from local wholesalers in Serbia

-0.7 Other

adjusted1) 165.6

1) Adjusted for one-time special effects as well as effects from currency influences and interest rate hedge transactions.

Corporate Presentation  November 2010 (A) www.stada.com page 26

 Stable balance sheet structure

Assets in € million Dec. 31, 2009 Sept. 30, 2010

A. Non-current assets 1,406.6 1,342.5
B. Current assets 1,045.1 1,088.9
Total assets 2,451.7 2,431.4

Equity and liabilities in € million Dec. 31, 2009 Sept. 30, 2010
A. Equity 869.7 837.0
B. Non-current liabilities and provisions 683.5 1,113.2
C. Current liabilities and provisions 898.5 481.2
Total equity and liabilities 2,451.7 2,431.4

Equity-to-assets ratio in % Working capital in € million

34.5% 35.5% 34.6% 34.4% 627

-16%
+2% +1%

528 538 541

09/30/2009 12/31/2009 06/30/2010 09/30/2010 09/30/2009 12/31/2009 06/30/2010 09/30/2010

Corporate Presentation  November 2010 (A) www.stada.com page 27

 Net debt

Net debt in € million  Net debt reduced by approx. € 126 million within one
year to € 879.1 million in 1-9/2010

 Net debt/adjusted1) EBITDA to 2.9 (2009: 3.1)

€ -126
mn  Target ratio net debt/adjusted1) EBITDA maximum 3
1,004.8 temporarily achieved
899.0 879.1
 M&A activities may trigger higher ratio temporarily

09/30/2009 12/31/2009 09/30/2010

1) Adjusted for one-time special effects as well as effects from currency influences and interest rate hedge transactions.
2) Linear extrapolation of the (adjusted) EBITDA 1-9/2010 on a full year basis.

Corporate Presentation  November 2010 (A) www.stada.com page 28

 Stable debt structure
Maturities of financial liabilities due to banks as of Sept. 30, 2010 in € million

Bond
Amounts due to banks
36.2 Promissory notes
51.8 350.0

244.0
195.5
24.1 10.8
9.6 35.0 11.0 50.5 22.1
2010 2011 2012 2013 2014 2015 > 2015

 Issuance of a corporate bond on April 21, 2010 (€ 350 million nominal value, 4.0% p.a. bond due April
2015)
 Maturity of the next bigger tranche of promissory notes in the amount of € 195.5 million in the fourth
quarter of 2011
 Short-term liabilities to banks with maturity under one year: accepted credit lines which have been provided to
STADA by banks on a revolving basis for years
 Weighted interest burden for Group financial liabilities on Sept. 30, 2010:
4.8% (Dec. 31, 2009: 3.8%); switch of a euro loan in Russia into ruble in order to minimize the currency risk
exposure of the Group

Corporate Presentation  November 2010 (A) www.stada.com page 29

 Expenses for capital expenditure

Total expenses 2007-2009 € million Total expenses 1-9/2010 vs. 1-9/2009 in € million

265.3 Purchase of consolidated

companies
Essential investment in intangible
95.6 assets for short-term expansion of
the product portfolio
7.3 Investment in other intangible assets
125.1 8.7 78.6 (support organic growth)
170.6 3.1
Investment in property, plant and
equipment (maintenance)
Investment in financial assets
42.2 133.7 24.1
40.9
35.1 9.7 9.0
27.4
41.7 23.6
59.1 46.4
72.2 38.6
24.3
42.0 50.8
4.0 4.8 0.1 0.1 3.5
2007 2008 2009 1-9/2009 1-9/2010

 Proceeds  1-9/2010: expenses clearly below previous year;

2009: € 27.3 million proceeds of € 4.2 million
2008: € 27.3 million
2007: € 31.8 million

Corporate Presentation  November 2010 (A) www.stada.com page 30

 Cash flow from operating activities
and free cash flow
Cash flow from operating activities (in € million)
2005-2009 250.5 1-9/2010 vs. 1-9/2009
124.7 130.6
129.3
96.3 92.9
61.8

2005 2006 2007 2008 2009 1-9/2009 1-9/2010

Free cash flow1) (in € million)

2005-2009 144.0 1-9/2010 vs. 1-9/2009

51.8 56.2
-14.0
-100.7 -140.6

-515.9
2005 2006 2007 2008 2009 1-9/2009 1-9/2010

 Improvement of free cash flow, supported by intensified Working Capital Management

1) Free cash flow includes cash flow from operating activities and cash flow from investing activities.

Corporate Presentation  November 2010 (A) www.stada.com page 31

 Operational outlook 2010 reiterated

 Growth of sales and all operational key earnings figures (adjusted)

 Adjusted1) operating margin at least stable

 Net debt/adjusted1) EBITDA: maximum 3

 Assumption: Recovery of the Serbian business in the 4th quarter of 2010

1) Adjusted for one-time special effects as well as effects from currency influences and interest rate hedge transactions.

Corporate Presentation  November 2010 (A) www.stada.com page 32

 Financial calendar
2011
03/30/2011 Publication of 2010 results with analysts´ and press conference

05/12/2011 Publication of Q1/2011 results

06/16/2011 Annual General Meeting

08/11/2011 Publication of 2011 interim results with analysts´ and press

conference

11/10/2011 Publication of Q3/2011 results

Corporate Presentation  November 2010 (A) www.stada.com page 33

 Corporate Communications – Your contact:

Dr. Markus Metzger Elisabeth Reichert

(Director Communications)
E-Mail: markus.metzger@stada.de
Corporate Communications / Equity & Credit Investor Relations
Maike Mennecke
E-Mail: maike.mennecke@stada.de
Kay Reubelt
E-Mail: kay.reubelt@stada.de
(Assistant)
E-Mail: elisabeth.reichert@stada.de
STADA Arzneimittel AG
Corporate Communications
61118 Bad Vilbel,
Deutschland
P: +49 (0) 6101 603-113
F: +49 (0) 6101 603-506
communications@stada.de
www.stada.de

Martina Cailloud
E-Mail: martina.cailloud@stada.de

Jessica Gepel
E-Mail: jessica.gepel@stada.de

Melanie Weis
E-Mail: melanie.weis@stada.de

Corporate Presentation  November 2010 (A) www.stada.com page 34

 Notes

Please note the legal information at the beginning of the presentation. Version A
 Share capital and shareholder structure

Sept. 30, 2010

Outstanding STADA shares1)2)3) 58,876,360

Possible shares from warrants 00/154) 3,513,860

 Current shareholder structure:

 100% free float
 Approx. 55% institutional investors
 Current notices with regard to the exceeding of legal reporting threshold of > 3% of
shareholdings are published on STADA website (www.stada.com)
 Approx. 14% pharmacists and doctors
 Amount of own shares on March 31, 2010: 102,404 shares2)

1) Owners of the restricted registered common shares must be recorded in the shareholders’ register in order to be able to exercise their shareholders’ rights.
Recording in the shareholders’ register is only possible with the approval of the Executive Board.
2) The purchase of up to further 10% of the capital stock in own shares until Dec. 10, 2010 was approved by the shareholders’ meeting 2009.
3) Additional authorized capital of 29.4 mill. common shares.
4) Exercise price for subscription of 20 common shares: € 329.00.

Corporate Presentation  November 2010 (A) www.stada.com page 36

 Market analysis: Generics penetration in
selected EU markets by sales 2009

Total pharma- Off-patent Generics

ceutical market market in € market Generics
Market in € million Δ% million in € million penetration1)
Germany 25,308 +4 8,900 4,983 56%
France 21,279 +2 5,298 2,484 47%
UK 15,734 +3 5,894 3,111 53%
Italy 11,852 +1 4,266 653 15%
Spain 10,401 +3 6,789 885 13%
Belgium 3,101 +2 1,266 278 22%
Austria 2,073 +3 600 321 54%
Finland 1,945 0 729 280 38%

Source: STADA estimate at ex-factory prices based on market data provided by various international market research institutes.
1) Share in percent of the generics capable market.

Corporate Presentation  November 2010 (A) www.stada.com page 37

 Currency effects 1-9/2010
Translation effects when transferring sales from local operating units into the Group
accounting currency euro
in % points 2008 2009 Q1/2010 Q2/2010 Q3/2010 1-9/2010

Currency effects +2.0 -5.0 +0.1 +0.7 +0.2 +0.3

P&L effects due to foreign currency items for monetary assets & liabilities

in € million 2008 2009 Q1/2010 Q2/2010 Q3/2010 1-9/2010

Net currency influence
(from other operating income and other operating -13.0 -4.1 +8.4 +5.8 -6.4 +7.8
expenses)
thereof: special effect
-3.7 -1.1 +2.4 – – +2.4
(from existing loan for earlier Russian acquisition)

Equity effects attributable to shareholders of STADA Arzneimittel AG due to currency

differences directly recognized there
in € million 2008 2009 Q1/2010 Q2/2010 Q3/2010 1-9/2010

Equity netting -107.6 -37.5 +1.4 -10.5 -30.4 -39.5

Corporate Presentation  November 2010 (A) www.stada.com page 38

 Adjusted earnings figures clearly
increased in 1-9/2010
Adjusted for one-time special effects
& non-operational effects
Δvs. Δvs. Δ vs. Δ vs.
in € million 2009 2008 1-9/2010 1-9/2009 2009 2008 1-9/2010 1-9/2009
Operating profit 191.9 +9% 104.9 -19% 211.1 -5% 165.6 +15%
EBITDA 280.1 +10% 182.9 -4% 287.5 -2% 224.2 +12%
EBIT 192.5 +10% 105.3 -19% 210.8 -4% 166.0 +16%
EBT 141.5 +34% 66.1 -28% 163.0 -1% 127.4 +17%
Net income 100.4 +32% 38.8 -46% 115.8 0% 91.2 +8%
EPS in € 1.71 +32% 0.66 -46% 1.97 0% 1.55 +8%
EPS in € (dil.) 1.70 +33% 0.65 -47% 1.96 +1% 1.52 +6%

Corporate Presentation  November 2010 (A) www.stada.com page 39

 P&L details 1-9/2010

2009 2009 in % 1-9/2010 1-9/2010

in € million of sales in € million in % of sales
Gross profit 723.4 46.1% 561.5 47,7%
Cost of sales 346.1 22.1% 276.9 23,5%
G&A expenses 125.0 8.0% 92.0 7,8%
R&D expenses1) 46.6 3.0% 39.1 3,3%
Financial result -50.4 -38.9
Taxes on income 40.8 27.2

 Increase of cost of sales ratio, among other things, due to the deliberate avoidance of sales possible in order
to reduce the default risk on receivables and seasonal higher advertising costs
 Tax rate 1-9/2010: 41.1% (1-9/2009: 21.8%); affected by shifts in regional earnings mix and limited tax
deductibility of one-time special effects

1) In financial year 2009, development expenses for new products in the amount of € 14.8 million were capitalized.

Corporate Presentation  November 2010 (A) www.stada.com page 40

 One-time special effects and non-operational
earnings-influencing effects 1-9/2010

One-time special effects 1-9/2010 in € million

Before taxes:
Q1/2010: -7.9 mainly unscheduled amortization on assets, impairments
Q2/2010: -5.5 mainly value adjustments on receivables
Q3/2010: -49.7 mainly value adjustments on receivables and expenses for “STADA – build the future”
1-9/2010: -63.1 one-time special effects 1-9/2010 before taxes (netted); (1-9/2009: € -12.1 million)

After taxes:
1-9/2010: -53.6 one-time special effects 1-9/2010 after taxes (netted); (1-9/2009: € -9.4 million)
thereof -14.1 burden as a result of expenses in connection with the „STADA – build the future“ project

Non-operational earnings-influencing effects from currency influences and

interest rate hedge transactions 1-9/2010 in € million
Before taxes:
1-9/2010: +1.8 non-operational earnings-influencing effects 1-9/2010 before taxes (netted);
(1-9/2009: € -5.1 million)

After taxes:
1-9/2010: +1.2 non-operational earnings-influencing effects 1-9/2010 after taxes (netted);
(1-9/2009: € -3.4 million)

Corporate Presentation  November 2010 (A) www.stada.com page 41

 Balance sheet detail: intangible assets

Residual carrying amounts of intangible assets at the end of reporting period in € million

1-9/2010 2009 2008 2007 2006 2005

Goodwill 323 331 339 377 289 140
Approvals, trademarks etc. 570 571 567 651 579 399
Advance payments made 98 98 95 69 77 73
Total 991 1,000 1,001 1,097 945 612

 Top position in terms of goodwill with unproblematic impairment test as at Sept. 30, 2010:
 Hemofarm subgroup: € 107.1 million
 Nizhpharm/MAKIZ (joint Cash Generating Unit): € 68.2 million

 Additional > € 500 million of value in use alone for all consolidated companies with goodwill that, in
accordance with IFRS, cannot be reported in the balance sheet (by making use of the criteria for
impairment testing that are usual at STADA)

Corporate Presentation  November 2010 (A) www.stada.com page 42