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Farmstandart OAO Raises Stake in Ukraine's Biolek to 97%-Interfax

Tuesday, 28 May 2013 05:30am EDT 

Interfax reported that Farmstandart OAO (Pharmstandard) has purchased 41.93% of the shares in Ukraine's PJSC Biolek (Biolek), reaching 96.93% participation in the company, Pharmstandard said in a press release. Pharmstandard used its own funds to finance the purchase. It did not disclose the price of the deal. The key objectives of the purchase are for Pharmstandard to increase Biolek's production capacities and strengthen its position on the Ukrainian pharmaceutical market, the press release said. Pharmstandard also plans to modernize facilities and expand Biolek's product portfolio.Biolek produces immunobiological products, vaccines, serums, diagnostics, culture mediums, blood products, hormonal, antiviral, antibacterial and enzymatic products. 

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