Russia's Pharmstandard buys 11% of Latvia's Grindeks
This article was originally published in Scrip
Executive Summary
Russia's largest pharmaceutical manufacturer Pharmstandard has acquired an 11.3% stake in Grindeks from one of its major shareholders, Vitalijs Gavrilovs, for an undisclosed sum. Its estimated cost, based on the Latvian company's market capitalisation, is around $11 million.