Pharmastandard delays UK and Russian IPO
Russian generic drugmaker Pharmastandard has postponed its UK Initial Public Offering and listing on the Russian Trading System and Moscow Interbank Currency Exchange, according to the Financial Times. The firm said it would be reviewing the structure of the offering, which could include new capital as well as existing shares. Last year, Pharmastandard generated sales of around $200.0 million and recently acquired the rival Russian drug company Masterlek.
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