Russia's Pharmstandard OJSC Plans Aquistition of Singapore's Bever Pharmaceutical
Pharmstandard OJSC seeks to bolster its over-the-counter business through acquiring Bever Pharmaceutical.
Pharmstandard OJSC, a Russian Pharmaceutical company, has announced plans to buy Bever Pharmaceutical, a Singapore-based pharmaceutical company for $590 million in a move to bolster its over-the-counter (OTC) business.
The deal will be funded by the combination of Pharmstandard’s shares and global depository receipts (GDRs) owned by Pharmstandard-Leksredstva OJSC in the amount of $542 million and cash of $48 million, which may be financed from external sources. Pharmstandard-Leksredstva OJSC currently holds Pharmstandard's shares and GDRs on its balance sheet at approximately $475 million.Pharmastandard’s, strategic rationale for the aquistition includes securing a long-term fixed cost supply of APIs for two of its OTC products Arbidol and Aphobazolum. It is expected that Bever will be included in a proposed, spin-off of Pharmastandard’s branded OTC business.
Bever is 100% controlled by Bristley Enterprises Ltd, which is owned by Alexander Shuster, Pharmastandard’s nonexecutive member of the board of directors. Upon completion, Bristley will become Pharmastandard’s second largest shareholder with an approximately 18.74% stake.
Completion of the deal is subject to approval at Pharmstandard’s extraordinary shareholder meeting, which is scheduled for Aug. 17, 2013. The board of directors of Pharmstandard-Leksredstva OJSC made the decision to abstain from voting at the meeting.
Source:Pharmstandard
Drug Solutions Podcast: A Closer Look at mRNA in Oncology and Vaccines
April 30th 2024In this episode fo the Drug Solutions Podcast, etherna’s vice-president of Technology and Innovation, Stefaan De Koker, discusses the merits and challenges of using mRNA as the foundation for therapeutics in oncology as well as for vaccines.
Drug Solutions Podcast: Gliding Through the Ins and Outs of the Pharma Supply Chain
November 14th 2023In this episode of the Drug Solutions podcast, Jill Murphy, former editor, speaks with Bourji Mourad, partnership director at ThermoSafe, about the supply chain in the pharmaceutical industry, specifically related to packaging, pharma air freight, and the pressure on suppliers with post-COVID-19 changes on delivery.
Pharmaceutical Tariffs Are Imminent: How Industry is Bracing for Impact
April 16th 2025On April 14, 2025, the Trump Administration launched a national security-driven investigation into pharmaceuticals, a move that will likely result in tariffs being placed on pharmaceutical drugs, ingredients, and other components that are imported from outside of the United States.
