Abbott $495M acquisition of Veropharm using iDeals™ Virtual Data Room
June 23, 2014
iDeals™ Virtual Data Room platform is being used to securely exchange deal-related documents by all parties involved in Abbot’s $495M acquisition of Russia-based Veropharm
US-based Abbott Laboratories announced a definitive agreement to acquire Russian drugmaker Veropharm. Under the terms of the agreement, Abbott will buy Garden Hills, a holding company that currently owns a controlling interest in Veropharm, for between RUB13.6 billion and RUB17 billion (or approximately $395 million to $495 million) depending on Garden Hills' share ownership of Veropharm at time of close.
Abbott said that with the acquisition it will acquire a portfolio of more than 100 products and expects the acquisition to add approximately $150 million in sales in 2015.
The US company, which has been operating in Russia since 1978, said the deal would allow it to establish a manufacturing presence in the country. Veropharm has three pharmaceutical manufacturing sites in Pokrov, Belgorod and Voronezh.
iDeals™ Solutions has been a provider of secure document management services to the investment, legal and life sciences sectors since 2008. Our flagship product is iDeals™ VDR, a next-generation application that is utilized by companies and leading advisors in over 30 countries around the world.
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