Pharmstandard To Pay $590M For Pharmaceutical Supply Co.

Law360, New York (August 13, 2013, 5:13 PM EDT) -- Russian drugmaker Pharmstandard plans to buy Bever Pharmaceutical, the supplier of ingredients for its two flagship drugs, for $590 million as part of a plan to spin off its over-the-counter business, it announced Tuesday.

Pharmstandard said that the deal will increase profitability by securing long-term supply of critical pharmaceutical ingredients for its flagship OTC brands, the antiviral drug Arbidol and anti-anxiety drug Aphobazolum. The company expects that the purchase of Bever will assist in its plans to spin-off of Pharmstandard's branded over-the-counter business, also announced in July....
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