Moscow, August 22, 2013 – Pharmstandard OJSC (LSE: PHST IL, RTS: PHST RU) (further “Pharmstandard” or the “Company” announces the closure of the transaction to acquire a 10,87% stake in DONELLE COMPANY LIMITED (“DONELLE”).
Pharmstandard has increased it’s share in DONELLE from 89,07% to 99,94%.
The deal was 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.