Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Pharmstandard to Spin Off Unit, Buy Singapore’s Bever

Pharmstandard, Russia’s biggest pharmaceutical company, plans to spin off its business that makes branded, non-prescription drugs and agreed to buy Bever Pharmaceutical Pte Ltd. for $630 million.

Shares in the over-the-counter drug unit will be distributed proportionally to Pharmstandard stockholders, the Moscow-based company said in a statement today. The company plans a conference call on July 10 to clarify details of the spinoff, Pharmstandard said. The drugmaker announced the purchase of Bever, based in Singapore, in a regulatory filing.

Pharmstandard has been considering selling the over-the-counter unit, which may be valued at about $2.5 billion, people with knowledge of the matter said last month. Today’s announcement makes the prospect of a sale appear more likely, said Natalia Smirnova, a Moscow-based analyst for Deutsche Bank AG.

“It just shows that the company has intentions to sell this business,” Smirnova said in a telephone interview.

Pharmstandard plans a shareholder meeting Aug. 17 to vote on the purchase of Bever, according to the regulatory filing. The Russia company didn’t describe Bever in the filing. Irina Bakhturina, an investor-relations executive for Pharmstandard, didn’t answer her office or mobile phones and didn’t immediately respond to an e-mailed request for comment.

Market Share

Citigroup Inc. was helping organize the sale process for the over-the-counter unit, the people with knowledge of the matter said last month. The business could provide a gateway to the Russian market, where the government has limited the reach of foreign drugmakers.

Pharmstandard has said it held a 3.4 percent share of Russia’s $24.9 billion pharmaceutical market last year, putting it behind Swiss drugmaker Novartis AG and French pharmaceutical company Sanofi.

Over-the-counter drug sales fell 4.5 percent to 14.8 billion rubles ($445 million), accounting for 29 percent of Pharmstandard’s revenue. Sales growth came instead from the prescription-drug unit, with revenue rising 33 percent. Revenue from third-party over-the-counter products also rose 30 percent to 28.3 billion rubles.

Pharmstandard’s global depositary receipts fell 1.2 percent to close at $20.10 in London. Pharmstandard is also listed on the Micex exchange in Moscow.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.