3 Sep 2009 14:38

Pharmstandard shareholders approve merger of two subsidiaries

MOSCOW. Sept 3 (Interfax) - Shareholders in Russian pharmaceutical company Pharmstandard approved a reorganization in the form of the merger of two subsidiaries - OJSC Pharmstandard-October and CJSC Masterlek - at a meeting on September 2, the company said in a statement.

The goal of the reorganization is to increase assets. The two subsidiaries to not conduct commercial operations.

The Pharmstandard group includes five production divisions: Pharmstandard Leksredstva (Kursk), Pharmstandard Tomskchimpharm (Tomsk), Pharmstandard Ufavita (Ufa), Pharmstandard Phytopharm-NN (Nizhny Novgorod) and Tyumen Medical Equipment and Tools (Tyumen).