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"Rusnano" Bought Out 29.7% Of Additional Issue Of "Pharmsynthez" Shares
23.01.2014 21:42


"Rusnano" bought out 29.7% of additional issue of shares of "Pharmsynthez" for 328 million rubles.

      "Rusnano"  acquired by pre-emptive right 29.7% of additional shares issued by "Pharmsynthez" for 328.4 million rubles, "Interfax" reports referring to the statement of "Pharmsynthez" Chairman of the Board of Directors, Dmitry Genkin. The pharmaceutical company intends to issue additional 50 million shares for 22.08 rubles each and to drum up 1.1 billion rubles. The remainder of the additional issue was bought by Estonian company Eurohelp and American Opko Pharmaceutical. After placement of shares the authorized capital of "Pharmsynthez" can rise by 40% to about 874 million rubles.

      Pharmsynthez is a Russian pharmaceutical company that specializes in producing and distributing innovative drugs. The company is able to work in three areas of drug manufacturing—laboratory research and development of new medicines, preparation of original active pharmaceutical ingredients and drugs, and launching products into markets. Such breadth is unusual for Russian pharmaceutical companies. By constructing its own production facilities, Pharmsynthez will be able to replace contract manufacturing. This will significantly reduce its production costs, allowing it to saving upwards of $2 million per year. The market in 2015 for drugs developed under this project in the US, the EU, and the CIS is forecast at more than $7 million; the Russian market-in excess of 14 billion rubles. Sales by Pharmsynthez of these drugs in 2015 are forecast at 1.2 billion rubles.

Author: Anna Dorozhkina

Tags: Rusnano Pharmsynthez    

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