While many Big Pharma players have only recently discovered the potential of doing business in Russia, India's generic drugmaker Ranbaxy Laboratories has been there for two decades. Ranbaxy has established itself by selling the low-price copycat drugs it has made its fortunes on, but is now looking at moving up the value chain.
With a Phase III cancer immunotherapy study under way, Durham, NC-based Argos Therapeutics today put in place its fifth fundraising, banking $42.5 million from a big group of backers led by a pair of unorthodox players.
Russia's Pharmstandard is clearing the way for a proposed spinoff of its over-the-counter drugs unit--and clarifying the details for some skeptical investors.
A week after Cleveland's nascent biotech accelerator BioMotiv bumped its financial reserves to $46 million, Torrey Pines Investment has stepped in to offer a $20 million commitment and close ties to the Russian drug development industry to back a joint effort to spawn new translational drug efforts around the globe.
In late June, Russia's Pharmstandard was reportedly considering a sale of its OTC business. A couple of weeks later, the company said it would spin the unit off instead. But the fate of that business is still up in the air, with a sale to another drugmaker still a possibility, Chairman Viktor Kharitonin tells Bloomberg.
The Astrakhan region's Narimanovsky district will be the site of Cadila's forthcoming plant, for which the company is looking to buy 20 hectares of land.
Investment group Domain Associates likes pharma and biotech investing. Pharma and biotech like Russian investment. By extension, that has led Domain Associates to help finance an $85 million manufacturing facility in Russia.
After reportedly weighing a sale of its $2.5 billion OTC business, Russia's Pharmstandard took matters into its own hands early this week, spinning off the business and then announcing negotiations for a takeover of Singapore-based Bever Pharmaceutical.
Russian pharma dealmaking is heating up. On the heels of news that Pharmstandard is shopping its over-the-counter business, the biosimilar developer Biocad is said to be entertaining offers from the likes of Pfizer and Amgen. The Russian company could be worth as much as $1 billion, sources told Bloomberg.
In the market for over-the-counter drugs in Russia? Pharmstandard may have a deal for you. The country's biggest drugmaker, Pharmstandard is said to be weighing a sale of its OTC business, which could be worth $2.5 billion.