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Business

Pharmstandard To Buy Singapore API Maker

by Alex Scott
August 26, 2013 | A version of this story appeared in Volume 91, Issue 34

Pharmstandard, Russia’s largest pharmaceutical firm, is set to acquire Bever Pharmaceutical, a Singapore-based manufacturer of active pharmaceutical ingredients, for $590 million from Bristley Enterprises. Bristley is owned by Pharmstandard non-executive-board member Alexander Shuster. Pharmstandard says the acquisition will provide it with a long-term, fixed-cost supply of key APIs for two of its leading over-the-counter products and increase profits for the firm’s OTC business, which it plans to spin off into a separate company.

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