The parties are discussing changes to some parameters of the forthcoming agreement.
In preparation for the deal, when parties assessed assets' value and project's perspectives, the parties came to the conclusion that SIA Group's capacities are excessive to meet NIC's (National Immunobiological Company) logistic needs: hospital sector of SIA Group Companies is about 5 percent while its further development in the commercial segment of the National Immunobiological Company (Nacimbio) seems inexpedient at the present time for a number of reasons.
"Nacimbio should focus on its key function which is to ensure, in particular, further production development of the innovative immunobiological products in Russia. We have discussed this issue in depth with our colleagues from Marathon Group and came to a mutual understanding that we would continue working together towards becoming a federal level supplier of medicines and medical products while adjusting the parameters of the deal: namely, excluding SIA Group Companies from the scope of the agreement," Aleksandr Nazarov, a Deputy General Director of Rostec, said.
"Logistic capacities of Marathon Group are not limited to SIA Group's capabilities," Sergey Zakharov, a Marathon Group board chairman, said adding that his company is ready to transfer technologies, expertise and other logistic capabilities of the Marathon Pharma to Nacimbio under the company's obligations to Rostec and Nacimbio after the in-depth assessment of the necessities," he stated.
"The sub-holding has all the necessary components to meet effectively logistic needs of Nacimbio. This includes a compliance with the standards for the operation of the 'cold chain', which is required for transportation of medical immumobiological preparations. All arrangements on the joint production development and achieving goals aimed at import substitution remain unchanged," Zakharov added.
We shall remind that in August 2017, the Rostec State Corporation and Marathon Group reached a merging agreement through Nacimbio to become a national supplier and producer of pharmaceutical products.
In accordance with a shareholder agreement, which was signed in February, the corporate structure of Nacimbio is as follows: 75% minus one share of the authorized capital belongs to Rostec, 25% plus one share belongs to Marathon Group. Rostec represented by Nacimbio gets a 49% stake in SIA Group owned by Marathon Group. The scope of the deal includes shares/stake owned by the parties in SINTEZ JSC, FORT LLC, Kirov Plasma plants and the Farm Aid Ltd., NIC Logistics.