BioSpace.com

Biotech and Pharmaceutical
News & Jobs
Search the Site
 
   
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Browse Biotech Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

INVESTOR
Market Summary
News
IPOs

PROFILES
Company Profiles

START UPS
Companies
Events

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Biotech Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
eNewsletter Signup
Miles
Km80.5

   

Pharmstandard to Spin Off Unit, Buy Singapore's Bever for $630 Million


7/9/2013 8:27:06 AM

Get the latest biotech news where you want it. Sign up for the free GenePool newsletter today!

Pharmstandard, Russia’s biggest pharmaceutical company, plans to spin off its business that makes branded, non-prescription drugs and agreed to buy Bever Pharmaceutical Pte Ltd. for $630 million. Shares in the over-the-counter drug unit will be distributed proportionally to Pharmstandard stockholders, the Moscow-based company said in a statement today. The company plans a conference call on July 10 to clarify details of the spinoff, Pharmstandard said. The drugmaker announced the purchase of Bever, based in Singapore, in a regulatory filing. Pharmstandard has been considering selling the over-the-counter unit, which may be valued at about $2.5 billion, people with knowledge of the matter said last month. Today’s announcement makes the prospect of a sale appear more likely, said Natalia Smirnova, a Moscow-based analyst for Deutsche Bank AG.

Help employers find you! Check out all the jobs and post your resume.


Read at Bloomberg
Read at Reuters
Read at News Release

   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES