Protek acquires Biopharm

2010-08-19

Protek Group, a Russian pharmaceutical holding, has won the tender for the acquisition of a 100% share in the Yaroslavl-based pharmacy chain Biopharm. The deal includes the acquisition of six retail outlets in Yaroslavl. In 2009 Biopharm’s revenue amounted to RUB 140m ($4.6m).
This is the second acquisition made by Protek in Yaroslavl. On 1 July 2010 the company acquired Novaya Apteka, a six-store chain of pharmacies with revenues of approximately RUB 170m ($5.6m) in 2009. Including these newly acquired stores, Protek now operates a total of 48 stores in the Yaroslavl Province.
The Protek Group includes companies such as the pharmaceutical distributor Protek, the pharmacy chain Rigla, the pharmaceutical producer Sotex and the Euroapteka pharmacy chain in Ukraine. In Q1 2010, Protek Group’s revenues grew by 21.4% year on year and amounted to RUB 39.7m ($1.3m). Net profit, however, declined during the period by 32% and totalled RUB 4.4m ($131,400). On 27 April 2010 Protek Group carried out its IPO.