11 May 2007, Moscow: Further to the announcement dated 4 May 2007 in relation to the global offering (the “Offering”) of ordinary shares of OJSC Pharmstandard (“Shares”), including in the form of Global Depositary Receipts (“GDRs”), Pharmstandard announces that it has received notice on 11 May 2007 from Citi and UBS Investment Bank as underwriters of the Offering of the exercise of the over-allotment option in respect of 4,929,468 GDRs (representing 1,232,367 Shares) referred to in the prospectus published by Pharmstandard on 4 May 2007.

The price per Share issued pursuant to the over-allotment option is equal to the offer price announced on 4 May 2007 (US$58.20 per Share and US$14.55 per GDR).

Following the sale of the additional Shares pursuant to the over-allotment option, the total size of the Offering will be 16,349,408 Shares, including Shares in the form of GDRs, corresponding to a total offer size of approximately U.S. $952 million.

Following the exercise of the over-allotment option the Offering represents approximately 43% of Pharmstandard’s issued Shares.

It is expected that the over-allotment option will close on 16 May 2007.