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Pharmstandard to Buy Ingredient Supplier for $590 Million


8/13/2013 7:13:36 AM

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Russian drugmaker Pharmstandard has agreed to buy a supplier of ingredients for its flagship anti-viral and anxiety drugs for $590 million, as part of a plan to spin off its over-the-counter (OTC) business. The plan to purchase Bever Pharmaceutical prompted a sell-off in Pharmstandard's shares when it was first announced in July. Analysts were concerned about a lack of information regarding Bever or a clear reason for the deal.

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