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Germany's STADA buys 3 Russian pharmaceutical cos for 125 mln euros
Nizpharm, a subsidiary of German pharmaceutical company STADA, has closed a deal to buy 100% stakes in Russian pharmaceutical companies Makiz-Pharma, Skopinpharm and Biodyne Pharmaceuticals for 125 million euros, Nizhpharm Chief Executive Dmitry Efimov said at a news conference Monday.
As a result of the acquisition, Nizhpharm is expected to get a 1.4% share of Russia's pharmaceuticals market, he said.
Nizhpharm's sales rose 27% on the year to 72.2 million euros in 2006.
Makiz-Pharma, Skopinpharm and Biodyne Pharmaceuticals were affiliated before the deal. The combined sales revenue of the companies doubled on the year to 51.5 million euros in 2006.