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Russia

Latest Headlines

Latest Headlines

Teva continues to whittle down manufacturing network

Teva Pharmaceuticals has cut $650 million in costs this year but needs to more than double that over the next two as it faces generic competition to its workhorse multiple sclerosis drug Copaxone. A big part of that will be to continue revamping its production network, CEO Erez Vigodman says.

Abbott, unfazed by political tensions, closes deal for Russia's Veropharm

Mounting political tensions between Russia and the West may have recently scared Germany's Fresenius out of a partnership in the country. But they won't spook Abbott Laboratories out of its VeroPharm buy, it announced Friday.

Fresenius kills Russian partnership as political tensions escalate

Building political tensions between Russia and the West are making it increasingly difficult for drugmakers in the region, prompting Germany's Fresenius to dump a partnership there. The announcement comes as other drug companies have reported their businesses are under pressure in the area.

Will buyers bite for Unipharm amid Russian M&A slow-down?

Drugmakers have been buying out OTC companies left and right lately. But would that demand apply to a Russia-focused consumer company, considering the recent slow-down in Russian investment? Unipharm is about to find out.

Novartis' Russian growth plans get delayed

Novartis is reportedly caught between EU sanctions on Russia and the dictates of Russian President Vladimir Putin, who has told Western drugmakers that he expects them to build plants and transfer technology as the price of admission to the growing market.

CMOs eye Russia for growth

Russia is striving to produce domestically 50% of the drugs sold in the country, and, to do so, it's encouraging global manufacturers to buy, build or rent facilities there.

Global CMOs tipped to enter Russia as local drug production deadline nears

While geopolitical instability in Eastern Europe would appear to make Russia a risky bet, the size of the market and incoming targets on drug production mean the likes of Abbott Laboratories are still investing. For companies unwilling or unable to strike deals like Abbott's $495 million buyout of Veropharm, a new option is tipped to emerge: CMOs.

Danaher demurs on M&A, looks to China, Brazil and Russia

Diversified conglomerate Danaher emphasized organic growth rather than acquisitions at a recent investor meeting. That's despite much speculation on its M&A appetite following the Medtronic announcement that it will acquire Covidien.

Abbott bulks up in Russia with $495M deal for Veropharm

Abbott Laboratories has said it plans to focus its branded generics business on a select group of rapidly expanding emerging markets. It appears Russia is one of them. The Illinois-based drugmaker will shell out up to $495 million to buy the fast-growing Russian generics maker VeroPharm from local billionaire Roman Avdeev.

Russia mulls taking $300M in state vaccine contracts local

Multinationals may lose some of their access to Russia's vaccines market thanks to pressure from state corporation Rosteh, with 11 billion rubles ($300 million) in state contracts at stake.