Abbott to acquire Russia's Veropharm

Abbott Laboratories (NYSE:ABT) will acquire Russian drug manufacturer OJSC Veropharm (MICEX:VRPH). Specifically, Abbott will acquire LLC Garden Hills, a holding company that has an >80% stake in Veropharm, for RUB13.6-RUB17 billion ($397.1-$496.4 million) depending on Garden Hills' stake in Veropharm at deal close. Abbott said it expects Garden Hill to own more than 95% at closing. Abbott will also take on Veropharm's net debt of RUB4.7 billion ($137.2 million). The deal is slated to close in 4Q14. Veropharm manufactures generic drugs for women's health, CNS, cardiovascular, gastrointestinal and cancer indications. The company reported 2013 revenues of RUB5.3 billion ($160.2 million). ...