Pharmaceutical holding Binnopharm Group is established in Russia

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AK&M 19 February 2021 17:53

Pharmaceutical holding Binnopharm Group is established in Russia, according to a statement by Sistema PJSFC.

Sistema and its financial partner VTB Group contributed their 56.2% stake in OJSC Sintez (which includes CJSC Biocom).

Besides, Sistema, VTB and a consortium of investors consisting of the Russia-China Investment Fund (a fund established by the Russian Direct Investment Fund and China Investment Corporation) and major Middle East funds (collectively, the "Investor Consortium") contributed an 85.6% stake in JSC Alium (which includes JSC Binnopharm) to the equity of Binnopharm Group.

As a result, the effective stake of Sistema together with VTB in Binnopharm Group will be 79%, and the Investor Consortium will have 15.8%. The remaining 5.2% of shares are distributed among individual minority shareholders, the statement notes.

Binnopharm Group is an integrated pharmaceutical holding uniting five production sites in different regions of Russia: JSC Alium (previous name: Obolenskoe, Serpukhov district, Moscow region), JSC Binnopharm (Zelenograd and Krasnogorsk), OJSC Sintez (Kurgan), CJSC Biocom (Stavropol). Binnopharm Group companies produce a wide range of drugs across various therapeutic areas and collectively have the largest portfolio of drugs among Russian manufacturers (more than 450 registered products, including the COVID-19 vaccine Sputnik V). Binnopharm Group's Chief Executive Officer is Rustem Muratov.