Date: 2014-04-25
Type of information: Joint-venture agreement
Compound:
Company: Fresenius Kabi (Germany) Sistema JSFC (Russia) Zenitco Finance Management (Russia)
Therapeutic area:
Type agreement: joint-venture
Action mechanism:
Disease:
Details: * On April 25, 2014, Fresenius Kabi is entering into a joint venture with Sistema JSFC, a large diversified holding company in Russia, and Zenitco Finance Management LLC. The joint venture combines Fresenius Kabi’s Russian and CIS business with CJSC. Binnopharm, a subsidiary of Sistema, with a minority stake owned by Zenitco. Fresenius Kabi will hold a 51 percent stake in the new company. Binnopharm is a Russian manufacturer and distributor of I.V. drugs, infusion solutions and active pharmaceutical ingredients. Located in the Moscow area, Binnopharm has two manufacturing facilities and more than 350 employees. Fresenius Kabi entered the Russian market in 1994, and currently sells infusion therapies, clinical nutrition and I.V. drugs in the country. The market for pharmaceutical products in Russia is forecast to grow from approximately €14 billion in 2013 to approximately €21 billion in 2017. Financial terms were not disclosed. The transaction is subject to approvals by the antitrust authorities as well as the Russian Government Commission on Monitoring Foreign Investments, and is expected to close by year-end 2014.
Financial terms:
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