Putin seizes control of key pharma giant Nizhpharm
Vladimir Putin has temporarily taken control of Nizhpharm, one of the largest pharmaceutical manufacturers in Russia. This decision affects 100 percent of the shares owned by Luxembourg-based company Nidda Lynx S.A.R.L., which is part of the German group Stada.
Nizhpharm, founded in 1919, is one of Russia's oldest drug manufacturers. In 2004, the German group Stada took control of the company, as noted by the Ukrainian publication Pravda.
Now, following a decree by Vladimir Putin, the temporary administrator of the assets is the Russian company Pharmirus, which specializes in the supply of medications.
One of the largest pharmacies
Nizhpharm ranked second in Russia in 2024 in terms of pharmacy sales in rubles, holding a 3.7 percent market share, and third in terms of packaging volume.
The company recorded an 11.2 percent increase in annual revenue, reaching 650 million dollars (925 million Canadian Dollars). Its portfolio includes over 100 brands, including Edarbi, Ermital, Artra, Ibuprofen, Diclofenac, and Vitrum vitamins.
Despite official statements about the desire for companies from "unfriendly" countries to return to the Russian market, none have applied to resume operations, as reported by the Russian Telegram channel The Bell.
