15 Oct 2019 12:54

Another 2 assets to join Sistema pharmaceutical holding - Yevtushenkov

RIYADH. Oct 15 (Interfax) - AFK Sistema is planning to expand its pharmaceutical business, Alium, and is considering buying another two assets, the Russian conglomerate's principal beneficiary, Vladimir Yevtushenkov, told reporters.

"They'll definitely join. [...] Another two [deals are being considered]," Yevtushenkov said when asked whether any other assets will be included in the pharmaceutical holding.

"We're looking at another two, among others. The goal is to grow a large company. That hasn't changed," he said, without giving details.

He also said that Alium could eventually become a public company but that "an IPO isn't a goal in itself."

"To structure a team, to get unified accounting, a certain period of time is needed. At least two years or so, probably," Yevtushenkov said.

Originally, Sistema's pharmaceutical business was represented by Binnopharm. At the end of 2018, the corporation and its partners joined Obolenskoye, acquiring 95%. Sistema immediately announced a merger of Binnopharm and Obolenskoye, with the resulting company to work under the brand Alium.

In August, Sistema and its financial partner completed the acquisition of a 46.5% equity stake in Sintez Kurganskoe Medical Products Company and a 75.1% equity stake in Biocom, through the holding company Sinocom Investments Limited, from the investment firm Marathon Group for 11.8 billion rubles.