Abbott may acquire one of Russia’s leading drugmakers for $240 million

The USA’s Abbott Laboratories (NYSE: ABT) is considering acquiring the 81.1 % stake in Veropharm (VRPH RU), one of Russia’s largest drugmakers. According to sources in Veropharm, the deal is scheduled for completion for the end of summer.

It is reported that Abbott has already completed due diligence on the Russian company. The amount of the potential deal is estimated at 8 billion roubles (around $240 million).

Russian analysts believe that the deal may be beneficial to Abbott. According to analysts at the Russian Association of Pharmaceutical Producers, the US company has attempted to enter into the Russian market through the establishment of its own production or the acquisition of any of local players since the beginning of 2000s.