Billionaire investor buys Russian biosimilar maker

Roman Abramovich's investment company, Millhouse LLC and OAO Pharmstandard buy a majority share of Russian biosimilar manufacturer Biocad. Millhouse will own 50%, Pharmstandard 20% and Biocad founder and CEO Dmitry Morozov will own 30%. The purchase price is undisclosed but the firm is valued at ~$1B according to a source close to the matter.

Pfizer (PFE) and Amgen (AMGN) reportedly had interest in the firm.

Biocad is currently recruiting patients for clinical studies of copies of Roche's (RHHBY) Rituxan, Herceptin and Avastin. The firm also cancer chemotherapies, a drug for genital infections and three drugs for viral infections.

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Comments (2)
  • Pillpoppinpuppy
    , contributor
    Comments (251) | Send Message
    Seems to correlate with the number of people on disability...up to 11 million and counting. Fundamentally transforming America!
    22 May 2014, 07:45 AM Reply Like
  • MortyLong
    , contributor
    Comments (191) | Send Message
    I fail to see the SA standards in this post, no relevance to investment in the biotech market - I welcome personal opinions/insight- if it points to activity or even government policy relevant to the investment community. Trends such as continued consolidation through mergers and acquisitions fueling growth in the biotech industry, i.e., Pfizer's recent attempts to buy AstraZeneca, Salix Pharmaceutical's purchase of Santarus creating a blockbuster suite of GI drugs and outstanding growth and synergy for investors, TEVA's growth through partnerships and their own attempts to create generic biologics. A commentary regarding people on disability regarding the medications Biocad is looking to create are used to treat which are very serious, life-threatening, illnesses, including cancer and any relief this will afford patients will allow more to receive the treatment they need to fight their disease. Herceptin is used in the treatment of breast cancer, I'm not sure where the disability argument comes into play.
    29 May 2014, 03:17 AM Reply Like
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