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Business
Abbott To Purchase Russia’s Veropharm
by Ann M. Thayer
June 30, 2014
| A version of this story appeared in
Volume 92, Issue 26
Abbott Laboratories has agreed to acquire Veropharm, a Russian pharmaceutical manufacturer. It will pay between $395 million and $495 million to purchase the holding company that now owns more than 80% of Veropharm and is expected to own 95% by the time the deal is completed. Abbott will also assume about $135 million in debt. The business will add about 100 products and $150 million in annual sales in 2015. The acquisition will provide a new manufacturing base for Abbott, which has operated in Russia for 36 years.
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