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 The beat gives management firepower against an activist investor
seeking to replace Stada's chairman and four other supervisory board
members at a shareholder meeting on June 9.
Stada will likely face questions about Active Ownership's investment
and speculation that the investor could force a sale or break-up of
the company in conference calls later on Thursday.
The speculation has driven the share price higher, but a source told
Reuters earlier this month the shareholder has no plans to push for
a sale.
Adjusted net income was up 6 percent at 40 million euros ($46
million) in the first quarter, Stada said on Thursday, compared with
average analyst expectations for 37 million euros in a Reuters poll.
Stada said profits were driven by the generic drugs business in
Germany, where sales rose 8 percent to 76 million euros.
Stada, which also makes branded non-prescription treatments and
diagnostic kits, said it was still forecasting a slight gain for
2016 in adjusted earnings before interest, taxes, depreciation and
amortization (EBITDA) and adjusted net income.
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Shares in Stada were up 0.8 percent at 0830 GMT, outperforming a 0.5
percent weaker MDAX.
(Reporting by Ludwig Burger and Victoria Bryan; Editing by Georgina
Prodhan and Maria Sheahan)
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