OREANDA-NEWS. Pharmstandard OJSC (LSE: PHST IL, RTS: PHST RU) announces the acquisition of 41.93% stake in "Biolek" PJSC (Ukraine) to reach 96.93% participation. Main objectives are to increase production capacities and to strengthen positions on a Ukrainian pharmaceutical market.

The deal was financed by Pharmstandard's own funds.

"Biolek" PJSC, a TOP-20 Ukrainian pharmaceutical company, is the producer of immunobiological products, vaccines, serums, diagnostics, culture mediums, blood products, hormonal, antiviral, antibacterial and enzymatic products.

Biolek's sales comprised USD21m in 2012.

Pharmstandard OJSC plans to modernize facilities and expand product portfolio on "Biolek" PJSC (Ukraine).