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Pharmstandard

August 27, 2008

JSC Pharmstandard announces the acquisition of a new product Afobazol®

Moscow, 27 August 2008 – OJSC “Pharmstandard” (LSE: PHST LI, RTS: PHST RU) today announced that it has agreed to acquire the Afobazol® trade mark for US$91.5 million (RUR 2.2 billion). The acquisition will be entirely financed from the Group’s funds.

Pharmstandard will acquire 100% of the shares in Donelle Company Limited, Cyprus, which has a wholly owned Russian subsidiary “Aphopharm” which owns the Afobazol® trade mark.  The transaction is expected to close by the end of 2008.

Afobazol® is an original selective anxiolytic for anxiety disorders treatment. The product was developed by Russian scientists at the Zakusov State Foundation Institute of Pharmacology of the Russian Academy of Medical Sciences and was launched in 2006. Afobazol® is patent protected until 2019. There is a high prevalence of anxiety disorders in Russia and Afobazol® is expected to take significant market share due to its unique safety profile, as it has no influence on cognitive and motor function. According to Pharmexpert, the anxiolytics segment was RUR 1.3 billion in 2007 by sales volume.  Afobazol® which was launched in 2006 had 17.2% market share and sales of RUR 223 million in retail prices in 2007.

Igor Krylov, CEO of JSC “Pharmstandard” commented:

“The acquisition of Afobazol® is the next step of the successful implementation of company strategy to expand our portfolio of innovative products. We consider this deal as a positive development for Pharmstandard and one that opens a new promising market segment.”

 

 

 

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