November 12, 2012 15:08
FAS green-lights AFK Sistema bid to buy 100% of VeroPharm, but with terms (Part 2)
MOSCOW. Nov 12 (Interfax) - Russia's Federal Antimonopoly Service (FAS) has approved AFK Sistema's (RTS: AFKS) request for permission to buy 100% of the stock in pharmaceuticals company OJSC VeroPharm (RTS: VRPH), but has attached some terms, a FAS statement says.
The FAS established that VeroPharm has a dominating position on the market for medicines with MNN Gemifloksatsin, and its subsidiary LLC LENS-Pharm with MNN Poliadenilovaya Kislota + Poliuridilovaya Kislota.
The FAS takes the view that the conduct of this deal could lead to a limiting of access to the market for the sale of these medical preparations by independent counteragent VeroPharm and LENS-Pharm. In light of this, the FAS requires of Sistema and VeroPharm to ensure the fulfillment of all contracts for the delivery of all medicines existing on the date the deal is completed.
Before the deal is done, Sistema is to post on its official website the document regulating its commercial policy as regards VeroPharm medical preparations, and announce changes to commercial policy in letter form to the FAS within thirty days.
The parties are not to, from the date the deal is completed, effect any unfounded economic or technological reduction or halt of the production and supply of goods that are still in demand. They are also to announce to the FAS either of such circumstances in letter form within thirty days.
AFK Sistema and VeroPharm are to annually inform the FAS in letter form that they are meeting these conditions.
The parties to the deal are to announce its completion to the anti-monopoly agency within twenty days from the day the deal is wrapped up.
According to DSM Group data, VeroPharm is third in a rating of the largest Russian pharmaceutical companies. Company product is provided by three plants: in Belgorod, Voronezh, and Pokrov. VeroPharm specializes in the production of Rx medical goods, which account for about 70% of its sales revenues.
Pharmacy Chain 36.6 (RTS: APTK) owns 51.8% of the company.
(Our editorial staff can be reached at email@example.com)
March 24, 2017
Govt orders for new weapons 98% fulfilled in 2016 - Shoigu (Part 2)
Le Pen says to develop relations with Russia if elected president of France
Le Pen speaks in favor of intelligence exchange between France, Russia to combat terrorism (Part 2)
Putin, Russian Security Council permanent members discuss attack on National Guard base in Chechnya - Peskov
CB estimates ruble deviation from fundamental value to be much lower than MinFin - Nabiullina
MOSCOW STILL UNAWARE OF NEW U.S. ADMINISTRATION'S APPROACHES TOWARDS AFGHANISTAN - RUSSIAN FOREIGN MINISTRY
Putin-Le Pen meeting did not address financial assistance to her election campaign - Kremlin (Part 2)
Quotations for Russian Eurobonds in US dollars
Quotations for Russian Eurobonds in euros and rubles
U.S. NOTIFIES OF ITS REFUSAL TO ATTEND AFGHANISTAN CONFERENCE IN MOSCOW ON APRIL 14, THIS IS REGRETFUL - RUSSIAN FOREIGN MINISTRY
Volodin expects contacts between Russian, French parliamentarians to resume after presidential election in France
Russian Deputy FM Karasin meets U.S. ambassador to discuss Donbas, Moldova
Lukashenko promises to prevent Ukrainian scenario in development of situation in Belarus