Moscow, August 12, 2013 – Pharmstandard OJSC (LSE: PHST IL, RTS: PHST RU) (further “Pharmstandard”) announces the acquisition of 10.87% stake in DONELLE COMPANY LIMITED to reach 100% participation.
As part of this transaction, on August 9, 2013 Pharmstandard Board of Directors (further “BoD”) approved the acquisition of a 5.4% stake in DONELLE COMPANY LIMITED – a transaction related to a member of the BoD, Alexander M. Schuster, (related party transaction) for RUR120.9m rubles.
Remaining 5.47% stake is envisaged to be acquired from third parties under same conditions.
The deal will be financed by Pharmstandard's own funds.
DONELLE COMPANY LIMITED is a subsidiary of Pharmstandard since 2008 and, in turn, an owner of JSC "Afofarm" (100%) – Afobazol® brand proprietor.
Afobazol® is an original selective anxiolytic for anxiety disorders treatment. The product was developed by Russian scientists at the Zakusov State Foundation Institute of Pharmacology of the Russian Academy of Medical Sciences and was launched in 2006.
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