Get the latest biotech news where you want it. Sign up for the free GenePool newsletter today!
OAO Pharmstandard, Russia’s biggest drugmaker, is considering the sale of an over-the-counter medicines business, people familiar with the matter said. The assets may be valued at about $2.5 billion, according to the people, who asked not to be identified as the talks are private. Citigroup Inc. (C) is helping organize the sale process, which is still at an early stage, the people said. The unit would offer a gateway to Russia, where the government has limited the reach of foreign drugmakers. Pharmstandard said it captured a 3.4 percent share of the country’s $24.9 billion pharmaceutical market last year, putting it behind Swiss drugmaker Novartis AG (NOVN) and French pharmaceutical company Sanofi. (SAN)
Help employers find you! Check out all the jobs and post your resume.
OAO Pharmstandard, Russia’s biggest drugmaker, is considering the sale of an over-the-counter medicines business, people familiar with the matter said. The assets may be valued at about $2.5 billion, according to the people, who asked not to be identified as the talks are private. Citigroup Inc. (C) is helping organize the sale process, which is still at an early stage, the people said. The unit would offer a gateway to Russia, where the government has limited the reach of foreign drugmakers. Pharmstandard said it captured a 3.4 percent share of the country’s $24.9 billion pharmaceutical market last year, putting it behind Swiss drugmaker Novartis AG (NOVN) and French pharmaceutical company Sanofi. (SAN)
Help employers find you! Check out all the jobs and post your resume.
