×
Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

Pharmacy Chain Sells Stake

Indebted Russian drug store chain Pharmacy Chain 36.6 is selling its stake in drug producing unit Veropharm for 5 billion rubles ($151 million) as part of a business restructuring.

The company said in a statement that it had agreed to sell Veropharm to GardenHills, a company of Russian businessman Roman Avdeyev.

"Today's deal will reduce the debt burden," Artem Bektemirov, the CEO and co-owner of Pharmacy Chain 36.6, said in the statement, adding that the company also planned to close unprofitable stores to make its retail business more efficient.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more