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Thornton & Ross News

Peter Goldschmidt to succeed Claudio Albrecht as STADA’s CEO

Bad Vilbel, September 3, 2018 – Peter Goldschmidt (53) succeeded Claudio Albrecht as the Chief Executive Officer of STADA Arzneimittel AG (‘STADA’ or ‘the Group’) with effect from September 1, 2018. Goldschmidt is an experienced generics manager and OTC expert who was most recently President of SANDOZ US, the global generics division of Novartis, and Head of North America. Goldschmidt will be focused on continuing STADA’s growth strategy that Albrecht successfully reinvigorated and advanced in 2017.

“Peter Goldschmidt is the right man that STADA needs in the driving seat going forward,” said Chairman of the Supervisory Board Günter von Au. “With his three decades of experience, I am confident he will ensure that STADA successfully retains its strong competitive position,” added von Au. He describes Goldschmidt as a “strong team player who has a long-term focus on building the portfolio and an excellent network in the pharmaceutical world”.

Originally from Höxter in East Westphalia, Goldschmidt came to STADA from the Novartis Group, where he held various senior management positions in Europe, Asia, and the US over the past 28 years. In his past position as the President of Sandoz USA and the Head of North America, he rapidly expanded the company’s generics and biosimilar business over the past five years to generate revenue in excess of USD 3 billion.

Previously, Peter Goldschmidt was also the Global Executive Member for Central and Eastern Europe for Sandoz, where he led Sandoz to a market leading position in generics and strongly grew its OTC business. He also held various senior leadership positions at Novartis Pharma in Asia and Europe during his career. “Naturally I have known STADA as a key player in the industry for many years, and I see enormous potential for the Group. Together with all employees we will strive to fully capitalise on the opportunities for growth,” announced the new CEO.

Goldschmidt intends to use the next 100 days to intensively get to know the Group, its partners, and its customers, and will then discuss his strategic priorities with his team. “I look forward to working with the highly experienced team at STADA to continue the Group’s long-term growth,” said the new CEO. Goldschmidt also described the excitement of the work ahead as another reason for joining STADA. “I am in complete alignment with our majority owners, Cinven and Bain Capital, on their strategy for building a company with long-term growth potential. Using the financial resources at their disposal, our focus remains on continuing to market a competitive portfolio and working closely with our global network of strategic development and production partners.”

Goldschmidt thanked Claudio Albrecht for the professional and amicable handover. Under the German government’s “cooling-off” regulation of 2009, Albrecht will not be taking a seat on the STADA Group’s Supervisory Board. “I am proud that, together with the high quality team at STADA and the Supervisory Board, we have successfully managed to turn STADA around, both in terms of business development and corporate governance and we will continue to focus on maintaining exemplary corporate governance standards and conduct. Naturally, I will continue to support the STADA Group and I wish Peter Goldschmidt and his team all the best,” said the outgoing CEO.

“Claudio Albrecht and his team played a fundamental role in setting out the Group’s strategy and initiating key process changes. We now have a great foundation that we can build on,” concluded Goldschmidt.

Günter von Au added: “On behalf of the Board of Stada and our major shareholders, I would like to thank Claudio for his exceptional contribution to STADA. He has worked tirelessly to redefine STADA’s growth strategy and to steer the Group towards its new path for success. We are very grateful for his dedication.”

Peter Goldshmidt and Claudio Albrecht
STADA's new CEO Peter Goldschmidt (left) thanked his predecessor Claudio Albrecht for the professional and friendly handover and got an initial overview of some of the company's best-selling products.

Strategic expansion of OTC portfolio continues – STADA acquires EMEA rights to global anti-dandruff brand Nizoral from Janssen Pharmaceutica

Bad Vilbel, June 28, 2018 – STADA Arzneimittel AG is further strengthening its position in branded over-the-counter healthcare products. The company has acquired the rights to the medicated anti-dandruff shampoo Nizoral from Janssen Pharmaceutica NV (a member of the Johnson & Johnson family of companies). The shampoo generated sales of approximately EUR 33 million in EMEA (Europe, Middle East, and Africa) in 2017.

“With Nizoral, STADA is adding a globally established brand to its portfolio that is highly recognized both by medical practitioners and customers, and which we believe has great potential for further growth. Together with head lice treatment Hedrin, Nizoral solidifies our competence in the hair and scalp product segment. The transaction is one of the largest in recent years and underlines our aspiration to be one of the leading providers of OTC products in Europe,” emphasized STADA CEO Dr. Claudio Albrecht.

Nizoral’s market share in the EMEA region is several times that of its nearest competitor, making it the clear market leader among medicated anti-dandruff shampoos. More than 50% of annual sales are generated in Russia, Italy, Great Britain, Poland, and the Middle East. In addition to the umbrella brand Nizoral, STADA is also acquiring the local brands Nizoril, Nizorelle, Terzolin, Fungarest, Ketoderm, Oranozol, and Triatop. Nizoral cream for skin infections will be part of the purchase in Italy and Denmark only; in all other countries the cream will remain with Janssen Pharmaceutica NV and its affiliates.

The anti-dandruff shampoo is marketed under the brand names Nizoral and Nizorelle in UK. “We are excited to add Nizoral into our portfolio and to further expand our presence in the consumer healthcare market. In 2017 UK achieved sales of EUR 3.92 million. In the next few months we will be working together very closely with the seller in order to ensure a smooth transition in distribution”, said Dieno George, Executive Vice President Brands at STADA.

The medical ingredient Ketoconazole, which was developed by Janssen Pharmaceutica NV and its affiliates, is the most frequently prescribed active ingredient for the treatment of dandruff. It distinguishes Nizoral from purely cosmetic anti-dandruff shampoos and makes it substantially more effective for treating symptoms such as dandruff, redness and itchiness of the scalp and their causes. Nizoral’s long duration of effectiveness of up to seven days also makes it highly effective against persistent dandruff.

Then and now picture
Celebrating 90 years of a British institution

November 2012
It was just over a month after a consortium of British and American electrical companies set up the British Broadcasting Company (or BBC as it later became) in a small office in London that Mr Nathan Thornton and Mr Phillip Ross incorporated themselves as manufacturing chemists in Huddersfield, West Yorkshire. The year was 1922, beer was 7d (3.5p) a pint and Al Jolson was topping the charts with “Toot, Toot Tootsie Goodbye.”

Ninety years on and Thornton & Ross is not only still going strong but has recently been identified in research for a report by accountancy firm Deloitte as one of their “Future 1000” businesses. Only 0.2 per cent of UK companies met the criteria for inclusion (based on growth over the last three years) and Thornton & Ross was one of those leading the way.

Thornton & Ross is best known for brands such as Covonia cough medicine, Zoflora disinfectant, Hedrin head lice treatment and the Care range of medicines.

The business started rented premises in an old dye-house in Colne Vale Road, Milnsbridge, Huddersfield. Nathan Thornton had been Works Manager of a Tar Distillery and Ammonia Works, manufacturing disinfectants and soaps from coal tar by-products. This enabled him to make particular study of disinfectants and antiseptics and led to his development of the Zoflora brand. Phillip Ross, a native of Beverley in East Yorkshire, served with a Hull firm of manufacturing chemists before coming to Huddersfield.

From the start, the founders were quite literally hands on in the business and Mr Thornton and Mr Ross apparently even made their own desks. The trade depression in the '20s made for a tough commercial climate in which to establish a new company, but by 1926 Thornton & Ross had 10 employees and had purchased its first car for a company representative.

An improvement and expansion programme started with the acquisition of the company's first commercial vehicle in 1934. Such was the level of growth that new premises were necessary and in 1937 the company moved to its present location in Linthwaite, to a factory which had originally housed a manufacturer of motor vehicles.

During the Second World War the company was engaged in war work producing medicines - and had government contracts for the manufacture of large quantities of disinfectants.

In 1968, the Medicines Act brought the first comprehensive licensing system for medicines in the UK and products such as Covonia (a local pharmacy nostrum which the company had acquired) were further developed and licensed under the new regulations. That same year the sons of the founders, Ralph Thornton and Vernon Ross, became Joint Managing Directors and took the lead in the next phase of growth for the company. The 1960s and 70s saw the rise of the supermarkets and Thornton & Ross eventually expanding distribution for Zoflora outside pharmacies.

In 1998 Thornton & Ross celebrated its 75th anniversary and the Covonia Bull made his first appearance in the press before going on to TV the following year with his now familiar roar of Covooonia.

The last ten years have seen the company develop its Linthwaite manufacturing site extensively and invest in both its core brands and new acquisitions under its CEO Dieno George. The first major acquisition was in 2002 when the company purchased a total of 24 brands, mostly OTC medicines, including Mycota, Transvasin and Acriflex. The following year Thornton & Ross acquired the Setlers brand, and then in 2006, following a successful Stage III Clinical Trial, the company launched the first licensed non-pesticide treatment for Head Lice in the UK – Hedrin. This product became brand leader in the UK within its first 6 months and is now the leading head lice treatment in Europe.

Further acquisitions have brought brands into the Thornton & Ross range including Radian B, Cerumol, Metanium and Allens and the company is now a major supplier of healthcare products to pharmacies, retailers and the NHS.

Thornton & Ross employ 450 people in the Colne Valley in Huddersfield, led by its Chairman Jonathan Thornton, the third generation of the Thornton family to work in the business. Expansion continues apace both at home and overseas.

Derma Boy
Derma new business shows steady growth

November 2012
Steady growth from a new range of products in a new business area means development plans are succeeding for T&R Derma.

Our Derma range of emollient products to treat and manage eczema was launched in July 2010 at Britain’s leading dermatology congress, run by the British Association of Dermatology (BAD).

A new sales structure has been established to spearhead growth nationwide, and Dermatology Marketing Manager Janet Maclean has masterminded the launch campaign.

“It’s been slow but steady growth since we launched – which is exactly what we’re hoping for,” explained Janet. “It’s a completely new business area for us – so we haven’t just been launching a new range of products, we’ve been launching Thornton & Ross into a different market - the NHS. It’s part of the long-term strategy for business growth. Britain has a £140 million emollient market – growing by 10% every year due to lifestyle impacts, the rise in population, and the rise in the percentage of elderly. It’s an all-year-round business, not seasonal, and once someone is on an emollient they may use it for their life time. So it has huge potential for us, and we’re laying down the foundations for future growth.”

We have two product ranges within the T&R Derma portfolio. – the cost-effective Zeroderma range of four creams, 2 bath oil products and 1 ointment for hospitals and Primary Care Trusts, which is complemented by a unique, clinically proven product called Aquamol. Aquamol has a unique moisture-enhancing formula combining penetration enhancers and occlusive properties. Few comparable products are clinically proven and Aquamol has been shown to significantly improve eczema and the overall skin condition; significantly reduce skin itch; significantly reduce sleep disturbance and, crucially, reduce the need for topical corticosteroids.

Bottle of Allens Cough Medicine
Thornton & Ross Ltd acquires the Allens brand

September 2010
Thornton & Ross Ltd is pleased to announce that it has completed the purchase of the Allens brand from Allens & Co (Anglesey) Ltd.

Established in the early 1900’s, the Allens brand has established a loyal and growing consumer base with a range which consists of Allens Pine & Honey Balsam, Allens Original Cough Lozenge, Allens Menthol & Blackcurrant Cough Lozenge and Allens Extra Strong Cough Lozenge.

The purchase includes all intellectual property, trademarks and stocks relating to these licences and the company will take over the sales, distribution and marketing of the products with immediate effect.

Dieno George, Chief Executive of Thornton & Ross said “The acquisition is in line with Thornton & Ross’ core competencies and is set to broaden our distribution base with an introduction to new trade sectors. Furthermore, the Allens range will enhance our growing presence in the cough market which is lead by Covonia, the UK’s No 2 and fastest growing major cough brand. Overall Thornton & Ross will now supply more than 1 out of every 5 bottles of cough medicine sold in the UK each year.”

The previous distributors Allens & Co (Anglesey) Ltd, will be forwarding details of all outstanding orders to Thornton & Ross for delivery and invoicing. Thornton & Ross will be communicating directly with all existing Allens Brand customers in order to ensure a smooth transition of the business.

Thornton & Ross Ltd are based in Huddersfield, West Yorkshire and produce a number of medicinal and household products, including Covonia cough medicines, the Care range, the largest volume brand sold in pharmacy, Hedrin, a breakthrough treatment for head lice, and Zoflora the leading floral disinfectant.

Further product and ordering information can be obtained from the Thornton & Ross Customer Service team on 01484-848200.

STADA AG completes the acquisition of Huddersfield based pharmaceutical manufacturer, Thornton & Ross Ltd.

August 2013
Following the announcement that STADA AG was in advanced talks to acquire Thornton & Ross Ltd, it has now been announced that the transaction has been completed.

T&R, based in Linthwaite, and in private hands for over 90 years has become one of the leading over-the-counter medicines manufacturers in the UK, and in recent years has also built a sizeable international business.

Many of its leading brands have become household names, including Covonia, Hedrin, Care, Setlers and Zoflora.

Jonathan Thornton, the grandson of one of the founders, Nathan Thornton, has been with the Company for nearly 30 years, the past 12 years as Executive Chairman. Jonathan’s father Ralph had previously been Managing Director for over 20 years.

Thornton & Ross is an important employer in the Huddersfield area, particularly in recent times as its growth accelerated to a turnover of approaching £70M and now employs over 400 people.

Jonathan Thornton spoke of his sadness to be leaving the business after years of family ownership and involvement, but also of his pleasure in leaving it in the capable hands of the existing management and the new owners STADA AG. “Many of the values that are so important to me are also evident within the Stada group, which ultimately was a major factor in making this decision to complete the transaction with Stada”.

“Thornton & Ross and STADA have so much in common, both being pharmaceutical manufacturers with a considerable tradition. We understand how emotional such a change is” the Chairman of STADA Executive Board Hartmut Retzlaff adds. “It’s the outstanding work of its employees and its management that made T&R a perfect match for us. So there is no need for change, everybody will stay onboard. Thornton & Ross will remain Thornton & Ross and will become a STADA centre of excellence for OTC products. Huddersfield will not only be a dot on our map but a most important part of the STADA family”.

Thornton & Ross Ltd acquires "Flexitol" brand from Lacorium Health

June 2014
Huddersfield based Thornton & Ross Ltd. is pleased to announce that it has completed the purchase of the Flexitol brand in the UK & Eire from LaCorium Health. Flexitol is a well established and successful range of dry skin treatments, which is best known for its footcare products. The acquisition is effective from the 16th June 2014.

The purchase includes all intellectual property, trade marks, and stocks relating to the brand in the UK and Eire. Thornton & Ross will take over the marketing of the brand with immediate effect.

Commenting on the purchase, Dieno George the Chief Executive of Thornton & Ross, said that Flexitol would add to the company's growing range of well-known UK brands. Mr George added that Flexitol would also benefit from Thornton & Ross' considerable strength and experience in manufacturing pharmaceutical quality cream products and medical devices.

Thornton & Ross Ltd. produces a number of medicinal and household products, including Covonia cough medicines, Hedrin head lice treatment, the Care range of medicines and the Cetraben and Zero dermatological brands, as well as Zoflora a fragranced disinfectant product. The business is part of STADA Arzneimittel AG which is based in Bad Vilbel, Frankfurt, Germany.

Luc Slegers, the STADA Regional Director for Europe commented that the acquisition is part of the STADA Group’s development of a strong branded portfolio, and would build upon the Centre of Excellence for OTC and prescription dermatology, which the company has established at Thornton & Ross as part of the STADA Group.

LaCorium is based in Australia and will retain the rights to Flexitol in all territories outside the UK and Eire.

Thornton & Ross Ltd licenses "K-Y Jelly" brand from Reckitt Benckiser

June 2016
Thornton & Ross Ltd, based in Huddersfield, is pleased to announce that it has entered into a licensing agreement with Reckitt Benckiser (RB) for the K-Y Jelly brand in the UK. K-Y Jelly is a well-known personal lubricant brand, with sales through a broad retail distribution base, as well as to the hospital sector. The licensing deal will be for an eight year period, and follows the global acquisition of the K-Y brand by RB from Johnson & Johnson (J&J) in 2014.

In the UK, this acquisition was reviewed by the Competition and Markets Authority, who allowed it to proceed on the condition that K-Y be licensed to a third party for eight years. RB is pleased to appoint T & R as the licensee.

The transfer of ownership from J&J to RB will take place shortly, and will be followed by the licensing out to Thornton & Ross. Commenting on the purchase, Dieno George the Chief Executive of Thornton & Ross, said that K-Y Jelly would add to the company's growing range of well-known UK brands, and would bring exciting new opportunities. Mr George added that K-Y Jelly would also benefit from Thornton & Ross' considerable strength and experience in manufacturing pharmaceutical quality cream and gel products, and medical devices.

Thornton & Ross Ltd. manufactures and markets a range of consumer and prescription medical products, including Covonia cough medicines, Hedrin head lice treatment, the Care range of medicines, the Cetraben and Zero dermatological brands, Flexitol footcare products and the Fultium range of Vitamin D3 products via its Internis subsidiary. The company is a subsidiary of STADA Arzneimittel AG which is based in Bad Vilbel, Germany.

Luc Slegers, the STADA Regional Director for Europe commented that the licensing deal for K-Y Jelly is part of the STADA Group's continued development of a strong branded portfolio, and builds upon the Centre of Excellence for OTC and prescription dermatology, which the company has established at Thornton & Ross as part of the STADA Group.

Thornton & Ross Ltd acquires Natures Aid Ltd

November 2016
Thornton & Ross Ltd, based in Huddersfield, is pleased to announce that it has acquired the Natures Aid business, a leading UK manufacturer and distributor of premium quality branded vitamins, minerals, food supplements and herbal products. Founded in 1981, Natures Aid is based in Preston, Lancashire, where it employs approximately 60 staff and has particular expertise in the manufacture of tablets and capsules, with significant distribution in the health food store sector, as well as in on-line retailing.

Commenting on the purchase, Barry Draude, the Managing Director of Thornton & Ross, said that the Natures Aid business would bring exciting new opportunities to both companies, as well as the broader STADA Group, T&R's parent company. Mr Draude added that there are a number of potential portfolio synergies between T+R and Natures Aid, which could be exploited quite quickly.

Thornton & Ross Ltd. manufactures and markets a range of consumer and prescription medical products, including Covonia cough medicines, Hedrin head lice treatment, the Care range of medicines, the Cetraben and Zero dermatological brands, Flexitol footcare products and the Fultium range of Vitamin D3 products via its Internis subsidiary. The business is part of STADA Arzneimittel AG which is based in Bad Vilbel, Germany.

Dieno George, STADA Executive Vice President with responsibility for branded products, commented that the acquisition of Natures Aid continued STADA's strategy of building their branded offering with high quality products which offer potential for internationalisation through STADA affiliates across Europe.

Further information can be obtained from:

Mr Barry Draude
Managing Director
Thornton & Ross Ltd.
Linthwaite
Huddersfield
HD7 5QH

Tel: 01484 842217

Thornton & Ross Ltd sign licensing agreement for novel pain relief gel

Thornton & Ross (T&R) are pleased to announce they have entered in to a long-term licensing agreement with Futura Medical, specialists in transdermal drug technology, for their novel topical diclofenac gel, TPR100.

Under the terms of the agreement, Thornton & Ross will conduct the manufacturing scale-up of TPR100 and hold rights to manufacture, market and distribute the product in the UK for the lifetime of the product's patents, which run to at least 2028 in the UK.

TPR100, which benefits from the rapid skin permeation rates offered by Futura's proprietary DermaSys® delivery system, demonstrated statistically significant results in a 2015 clinical study comparing the product against both placebo and currently marketed products.

Dieno George, Executive Vice President of Brands at STADA, said: "Thornton & Ross is an ideal partner for Futura, with its expertise in both OTC and Rx marketing and we are very excited to bring TPR100 into our product portfolio. TPR100's topical formulation, and positive trial results achieved to date, mean that it has the potential to be a product that very successfully meets patient needs."

Barry Draude, Managing Director at T&R, said: "Thornton & Ross are always seeking innovative technology that brings real benefits to patients and consumers and Futura's TPR100 is an excellent example of this. Futura are experts in topical pain relief and we look forward to working with them and to bringing this exciting product to market"

About Futura Medical plc

Futura Medical is a pharmaceutical group that develops innovative products for consumer healthcare. The Company is developing a portfolio of products and its strategy is to license their manufacture and distribution to major pharmaceutical and healthcare groups.

Futura is based in Guildford, Surrey, and its shares trade on the AIM market of the London Stock Exchange (AIM: FUM).

Ladival wins 'Best Beach Sun Protection 2017'

Thornton & Ross (T&R) are pleased to announce that our Ladival Sun Protection Lotion SPF30 has won the 'Best Beach Sun Protection' in this year's Best Beauty by Stylist Awards 2017. Ladival SPF30 was selected as the winner of this award through advanced testing and being professionally evaluated by 50 beauty industry experts and 500 Stylist readers.

Out of the hundreds of products entered into the Stylist Best Beauty awards, Ladival SPF30 came out on top for sun protection, with readers and industry experts alike recognising its range of benefits of Ladival. Ladival was praised for "being brilliant for all skin types including sensitive", "the lack of perfume, preservatives and parabens" and "its protection against harmful infrared rays" as well as "offering broad spectrum protection against UVA and UVB rays." Judges were also impressed by its non-greasy formula.

Stylist Beauty Council Reader Judge Isabel Sanchez said this about Ladival "I love the fact that Ladival has an advanced infrared-A protection system. Its application feels light for a lotion - it absorbs into my skin easily"

News

Peter Goldschmidt to succeed Claudio Albrecht as STADA’s CEO

STADA Arzneimittel AG Appoints Peter Goldschmidt as CEO to suceed Claudio Albrecht.

Click for more info

STADA acquires EMEA rights to global anti-dandruff brand Nizoral from Janssen Pharmaceutica

STADA Arzneimittel AG is further strengthening its position in branded over-the-counter healthcare products.

Click for more info

Ladival wins 'Best Beach Sun Protection 2017'

Thornton & Ross is pleased to announce that Ladival Sun Protection Lotion SPF30 has won the 'Best Beach Sun Protection' in this year's Best Beauty by Stylist Awards 2017.

Click for more info

Thornton & Ross Ltd signs licensing agreement with Futura Medical

Thornton & Ross is pleased to announce it has entered in to a long-term licensing agreement with Futura Medical.

Click for more info

Thornton & Ross Ltd acquires Natures Aid Ltd

Thornton & Ross Ltd is pleased to announce that it has acquired the Natures Aid business, a leading UK manufacturer and distributor of premium quality branded vitamins, minerals, food supplements and herbal products.

Click for more info

Thornton & Ross Ltd licenses "K-Y Jelly" brand from Reckitt Benckiser

Thornton & Ross Ltd is pleased to announce that it has entered into a licensing agreement with Reckitt Benckiser (RB) for the K-Y Jelly brand in the UK.

Click for more info

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