Support The Moscow Times!

Russian Pharmacy Chain Cleared to Buy Oriola-KD

Russia's competition watchdog has approved Pharmacy Chain 36.6's purchase of the Russian business of Finnish drug retail and wholesale chain Oriola-KD.

Timur Shkaya, Pharmacy Chain 36.6's co-owner, told Reuters on Friday the company planned to close the deal on Monday.

The purchase, valued at up to 100 million euros ($123 million), was approved by Russia's Anti-Monopoly Service (FAS), he said.

Oriola-KD took a $100 million impairment charge in June due to weaker growth prospects in Russia.

Russia's economy has been hit by Western sanctions over Moscow's role in the Ukraine conflict.

Oriola-KD generated around 1 billion euros in sales in Russia last year. It owns the 03-Apteka and Stary Lekar drug store chains, as well as distributor Oriola.

… 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.

paiment methods
Not ready to support today?
Remind me later.

Read more