Please login to the form below

Not currently logged in
Email:
Password:

Celesio still has claws in Protek despite delays

The EU's largest drug distributor, Celesio, is continuing to pursue a majority stake in Russian drug company Protek, despite a delay in the process

German-headquartered Celesio, the EU's largest drug distributor, is continuing to pursue a majority stake in Russian drug company Protek, despite a delay in the process, according to CEO Fritz Oesterle.

Oesterle said the delay was due to uncertainty concerning a possible nationalisation of one of Russia's top three pharmaceuticals companies, of which Protek is one, before the Russian elections earlier this month.

The speculation, although now diminished, now means that no deal would complete this year, according to Oesterle, who added that the transaction was not in jeopardy.

He said in a press statement on 12 December that if the company had the chance to get more information in the next two months then it would seize it.

When Celesion revealed the deal in October, it said it expected negotiations to be completed by mid-December. Oesterle also said Celesio was on the lookout for acquisitions in eastern Europe in 2008.

16th December 2007

Share

Featured jobs

Subscribe to our email news alerts

PMHub

Add my company
VCCP Health

We’re the challenger agency for challenger brands. Brands with a point to prove. Rx, OTC and wellness brands run by...

Latest intelligence

NHS regional footprints
What to expect from 2019...
Not another weight-loss ad
Christmas is over and the gyms are packed, it’s a never-ending tale. But why do we do it to ourselves every year?...
China’s clinical trial shake-up
As many of the obstacles to running clinical trials in China fall away, the country is proving to be a better research location...

Infographics