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Russian pharma firm buys API supplier for $590 million

6:19 AM MDT | September 6, 2013

Pharmstandard (Moscow), Russia’s leading pharmaceutical company, says it will acquire Bever Pharmaceutical (Singapore), a supplier of active pharmaceutical ingredients (APIs), for $590 million. Russian businessman Alexander Shuster, a nonexecutive board member of Pharmstandard, currently owns 100% of Bever. Pharmstandard says it is buying Bever to secure a long-term supply of critical APIs for two flagship OTC brands of Pharmstandard—Arbidol and Aphobazolum—at lower cost, increase the profitability of the OTC business, improve flexibility, and manage APIs...

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