Putin seizes control of pharmaceutical giant with German roots
Russian ruler Vladimir Putin has placed Nizhpharm, one of Russia's largest pharmaceutical manufacturers, under temporary control.
Source: Russian Telegram channel The Bell
Details: The relevant decree applies to 100% of the shares held by the Luxembourg-based company Nidda Lynx S.A.R.L., part of the German group Stada.
The new temporary administrator of the assets is the Russian company Pharmirus. Founded in 2020, Pharmirus specialises in the supply of medicines. In 2022, the company reported losses, with revenue of around RUB 92 million (US$1million).
Nizhpharm is one of Russia's oldest drug manufacturers, established in 1919. Stada acquired a controlling stake in the company in 2004. Following the beginning of the full-scale war, the ownership structure changed, and control passed to Stada's Luxembourg subsidiary.
DSM Group's data indicates that in 2024 Nizhpharm ranked second in Russia for pharmacy sales in roubles (3.7% of the market) and third in terms of packaging volume (3.8%). The company's annual revenue grew by 11.2% to reach RUB 59.8 billion (US$650 million). Its portfolio includes more than 100 brands, such as Edarbi, Ermital, Artra, Ibuprofen, Diclofenac and Vitrum vitamins.
Background: Despite official statements claiming a high number of companies from "unfriendly" countries want to return to Russia, not a single one has applied to resume operations on the Russian market.
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