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Russian Market Boosts Drug Maker Stada's Q3

German generic drug maker Stada posted a 7 percent rise in nine-month adjusted core earnings, as higher sales of drugs in Russia offset a decline in its domestic market.

Adjusted earnings before interest, tax, depreciation and amortization, or EBITDA, rose to 284 million euros ($397 million) in the first nine months of 2013, just shy of market expectations for 287 million euros.

Stada still sees high single-digit percentage growth in full-year adjusted EBITDA and it confirmed its target for 2014 net income of 215 million euros, up from 86.5 million in 2012.

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