Analyst Research

Report Title Price
Provider: Reuters Investment Profile
Provider: Reuters Investment Profile
Provider: Wright Reports
Provider: GlobalData

NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Court Upholds FAS Verdict of Price Collusion by Farmstandart OAO and Rost ZAO at Auction-Interfax

Monday, 22 Apr 2013 02:06am EDT 

Interfax reported that the Federal Arbitration Court of the Moscow District upheld the decision of the Federal Antimonopoly Service (FAS) on the recognition of Farmstandart OAO and Rost ZAO guilty of price collusion in the auction, FAS said. As follows from the case, the Health Ministry in December 2009, held an auction for the supply of the drug Pulmozyme. The initial contract value was more than RUB 670 million. The participants of the auction were Farmstandart OAO and Rost ZAO. Rost ZAO, which had a contractual relationship with the Cypriot Adoc Trading for medicines supply, provided the import of products in the Russian Federation in the amount required for the delivery of the auction. However, instead of participating in auction, Rost ZAO sold drugs to Farmstandart OAO. As a result of that Rost ZAO did not come for auction, the contract for the supply of drugs was signed with Farmstandart OAO at the maximum price. In May 2012, FAS declared both companies violating antitrust laws. Agency has placed on Rost ZAO and Farmstandart OAO penalty of RUB 400 million. 

Company Quote

26 Mar 2015