OREANDA-NEWS. July 11, 2012. OJSC Pharmstandard announced the purchase of a controlling stake in Bigpearl Trading Limited (Cyprus). This acquisition of a controlling stake by OJSC Pharmstandard enables it to determine general terms of business activities of OJSC Biomed named after I.I. Mechnikov, Pharmapark LLC and other commercial entities comprising a group of entities which includes Bigpearl Trading Limited. In February 2012, the Company obtained permission from the Federal Antimonopoly Service (FAS) to purchase 50.1% of shares in Cyprus company Bigpearl Trading Limited (Cyprus).

“This acquisition is fully in line with the existing strategy of Pharmstandard in respect of mergers and acquisitions, access to new technologies and production methods, as well as expansion of the current product portfolio of the Company. Addition of new original Rx products to our portfolio allows the Company to venture into new pharmacotherapeutic groups, which consequently leads to an increase in the Company’s organic sales. The transaction is scheduled to be closed at the end of August 2012 and will be financed from Pharmstandard's own funds.” - Igor Krylov, CEO of OJSC Pharmstandard.

“Since, 2009, we have been in close collaboration with Pharmstandard with respect to increasing sales of injectable product Altevir® (recombinant interferon) and today we are happy with the results of this joint effort. Now we are going to work on large-scale projects developing the whole of the product portfolio while drawing on the technological capabilities of both companies, their pool of skills and professionals staff .” - Vasily Srkypin, CEO of Pharmapark LLC.

“We envisage that our collaboration will allow us to start production of new combined vaccines compliant with international standards of good manufacturing practice, to launch an intergrated quality management system and to enhance our current position in the area of product promotion.” - Victor Mikhailov, CEO of Biomed named after I.I. Mechnikov.