Russian firm R-Pharm acquires Pfizer’s German plant
R-Pharm, one of Russia’s largest pharmaceutical producers, is expanding in the European Union market through the acquisition of a plant, previously owned by US pharma giant Pfizer (NYSE: PFE), which is located in the German city of Illertissen.
The deal is expected to be officially closed by the beginning of September. Financial details of the transaction are not disclosed but, according to some sources close to R-Pharm it is in the range of 100-150 million euros ($136-$205 million).
According to Vasily Ignatiev, chief executive of R-Pharm, the acquisition of the plant is a very important decision for the company, which will create conditions for its EU expansion and the launch of its drugs. The newly-acquired Pfizer plant specializes on the production of drugs in solid forms (tablets, capsules, powders, etc).
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