Abbott Laboratories to acquire Russian firm Petrovax Farm?
Although the US health care major has declined to comment on Russian media reports, Abbott Laboratories (NYSE: ABT) is expanding in Russia, through the filing of an application to the Russian Federal Antimonopoly Service (FAS) for the acquisition of Petrovax Farm, a well-known pharmaceutical producer, according to sources in the FAS.
Abbott reportedly plans to acquire 100% of Petrovax. The value of the deal is not disclosed but, according to some Russian analysts, it could be in the range of $250-$300 million. The annual turnover of the Russian company is currently estimated at $100 million.
Existing links between Abbott and Petrovax
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