Support The Moscow Times!

Drugmakers' Stocks Slump

Protek headed for its lowest level in more than a week Friday after the Federal Anti-Monopoly Service said it will investigate charges that the pharmaceutical wholesaler and 17 others companies rigged government drug-supply tenders.

The stock fell as much as 3.1 percent and last traded 2 percent lower at 41.72 rubles as of 12:15 a.m. in Moscow. A close at that price would be its weakest since April 5. The regulator said 18 manufacturers, including Protek and Pharmstandard, are suspected of illegally colluding in tenders in 2008 and 2009.

Pharmstandard fell for a second day, losing 0.8 percent and closing around 2,600 rubles.


Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.