Protek Seeks To Grow Production & Retail Businesses Through US$400mn IPO

Vertically-integrated Russian pharmaceutical enterprise Protek plans to raise US$400mn through an initial public offering (IPO) in May or June 2010. Half the amount raised will be used to purchase additional shares, while the remainder will help expand the firm's brand portfolio and pharmacy retail business and possibly target mergers and acquisitions. From a market perspective, BMI believes expansion should allow Protek to capitalise on rising demand for pharmaceuticals to increase revenues, although regulatory conditions may place downward pressure on margins within its distribution arm in

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