OREANDA-NEWS. January 20, 2011. Pharmstandard announces the acquisition of 55% stake in PJSC "Biolek" (Ukraine). In November the Ukrainian Antimonopoly Committee granted permission to purchase over 50% of shares in Ukrainian pharmaceutical company Biolek.

PJSC "Biolek", a top 20 Ukrainian pharmaceutical company, is the producer of immunobiological, vaccines, serums, nutrient mediums, diagnostics product, blood products, hormonal, antiviral, antibacterial and enzymatic drugs.

According to unaudited data, Biolek's sales comprised USD13,3 million in 2009. The 2010 sales forecasts are USD 17,7 million – a 23,3% YOY(year on year) increase from 2009. Exports make 23% and domestic sales are 77% of the company revenue respectively. 

Igor Krylov, CEO of Pharmstandard, commented: "For our company the purchase of Biolek is the first acquisition in the Ukraine. Ukrainian market is the second largest by sales after Russia.

Pharmstandard's current product range will be diversified with vaccines and serumes, oncological and immunobiological drugs. Biolek's products are largely sold in Russia and we are planning to increase sales within the Russian as well as overseas markets".

The deal was financed with Pharmstandard's own funds.