Fresenius Kabi enters Russian joint venture

Bad Homburg, (PresseBox) - Fresenius Kabi is entering into a joint venture with Sistema JSFC, a large diversified holding company in Russia, and Zenitco Finance Management LLC. The joint venture combines Fresenius Kabi's Russian and CIS business with CJSC Binnopharm, a subsidiary of Sistema, with a minority stake owned by Zenitco. Fresenius Kabi will hold a 51 percent stake in the new company.

Binnopharm is a Russian manufacturer and distributor of I.V. drugs, infusion solutions and active pharmaceutical ingredients. Located in the Moscow area, Binnopharm has two manufacturing facilities and more than 350 employees. 2013 sales were US$104 million.

Fresenius Kabi entered the Russian market in 1994, and currently sells infusion therapies, clinical nutrition and I.V. drugs in the country. 2013 sales were US$73 million.

The joint venture is an excellent platform for further growth in Russia and the CIS states. In addition, it provides domestic manufacturing capacity.

The market for pharmaceutical products in Russia is forecast to grow from approximately €14 billion in 2013 to approximately €21 billion in 2017[1].

Financial terms were not disclosed. The transaction is subject to approvals by the antitrust authorities as well as the Russian Government Commission on Monitoring Foreign Investments, and is expected to close by year-end 2014.

This release contains forward-looking statements that are subject to various risks and uncertainties. Future results could differ materially from those described in these forward-looking statements due to certain factors, e.g. changes in business, economic and competitive conditions, regulatory reforms, results of clinical trials, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. Fresenius does not undertake any responsibility to update the forward-looking statements in this release.

[1] IMS 2013

Fresenius AG (SE)

Fresenius is a global health care group, providing products and services for dialysis, hospital and outpatient medical care. In 2013, Group sales were €20.3 billion. On December 31, 2013, the Fresenius Group had 178,337 employees worldwide.

For more information visit the Company's website at www.fresenius.com.

Press releases you might also be interested in

Subscribe for news

The subscribtion service of the PresseBox informs you about press information of a certain topic by your choice at a choosen time. Please enter your email address to receive the email with the press releases.

An error occurred!

Thank you! You will receive a confirmation email within a few minutes.


I want to subscribe to the gratis press mail and have read and accepted the conditions.