Pharmstandard confirms OTC spin-off and in talks to buy Bever Pharma

10 July 2013

Russia’s largest drugmaker Pharmstandard OJSC (PHST RU) has confirmed that it has initiated steps for a spin-off of company’s branded over-the-counter business into a separate legal entity whose shares will be proportionally distributed among the firm’s shareholders.

The news comes after recent speculation that the OTC business is to be sold for around $2.5 billion (The Pharma Letter July 2). The announcement makes the prospect of a sale appear more likely, said Natalia Smirnova, a Moscow-based analyst for Deutsche Bank AG.

Specifies details of a possible acquisition

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