The government anti-monopoly authority in Russia has announced that Abbott Laboratories has filed an application for the acquisition of the Russian NGO Petrovax Pharm.
With the acquisition, Abbott could be the first US-based pharmaceutical company to have its own production facilities in Russia. According to experts, the impending deal is in the top three of the biggest in the history of the Russian pharmaceutical market.
Petrovax Pharm was established in 1996 by a team of Russian flu vaccine researchers, including Rem Petrov, Arkady Nekrasov, Natalya Puchkova and Rakhim Khaitov. The current CEO, Professor Arkady Nekrasov launched the drugs Grippol (an influenza vaccine) and Polyoxidonium (an excellent immunomodulator) following government funding in 2002. Both drugs are now part of the company’s portfolio.
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