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.

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.


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