Thursday, October 18, 2012
Abbott Labs May Soon Enter Russian Pharma Market
According to a source in Russia's antimonopoly service (FAS), Abbott Laboratories has filed paperwork to acquire Russian pharmaceutical company, NPO Petrovax Pharm. The terms of the deal have not been disclosed, but experts speculate it would be among the top three deals in the history of the Russian pharmaceutical market (in the range of $200 to $250 M), and would make Abbott Labs the first American pharmaceutical company with production facilities in Russia. Petrovax Pharm, created in 1996 by Russian scientists, has been active in creation of drugs including Grippol (influenza vaccine) and polyoxidonium (immunomodulator). Julia Nechayeva, director of Strategic Research at DSM Group, believes the deal would not only give Abbott access to at least 20 worldwide patents, but would also provide Abbott with local access to the growing Russian market.