Pharmstandard may sell its non-Rx business for $2.5 billion; AbbVie Russian plans

2 July 2013

Pharmstandard, Russia’s largest drug producer, is considering selling its production of non-prescription drugs business, the value of which is estimated at about $2.5 billion.

According to sources close to management of the company, it has already started negotiations with potential bidders, which are being coordinated by Citigroup. However, representatives of Pharmstandard declined to comment on the negotiations.

Meantime, Russian analysts believe that the main reason for Pharmstandard’s decision to sell its non-prescription drugs’ business is poor results demonstrated in recent years and, in particular, small growth rates.

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