Pharmstandard OJSC Completes Transaction to Acquire Bever Pharmaceutical

August 28, 2013
Melanie Sena

Melanie Sena is community editor of Pharmaceutical Technology.

The Russian pharmaceutical company PharmaStand finalizes deal for acquiring Bever, a Singapore pharma company.

Pharmstandard OJSC has completed a transaction to acquire a 100% share capital in Bever Pharmaceutical in Singapore. Earlier this month, Pharmstandard announced plans to acquire Bever Pharmaceutical.

The amount of the transaction is $590 million. The transaction will be funded by the combination of Pharmstandard’s shares and global depository receipts (GDRs) owned by Pharmstandard-Leksredstva OJSC in the amount of $542 million and cash of $48 million, which may be financed from external sources. Pharmstandard-Leksredstva OJSC currently holds Pharmstandard's shares and GDRs on its balance sheet at approximately $475 million. The company expects that all settlements will be finalized by the end of December 2013.

Pharmstandard acquired Bever to bolster its over-the-counter (OTC) business, which includes securing a long-term fixed cost supply of two OTC APIs. It is expected that Bever will be included in a proposed spin-off of Pharmstandards OTC business.

Source: Pharmstandard