Endogenix

History

2023: China's Gan & Lee Pharmaceuticals sold 51% of Endojenix to Pharmactive

The largest Chinese insulin manufacturer Gan & Lee Pharmaceuticals withdrew from the capital of the Russian company Endojenix, selling a 51 percent stake to its other co-owner, Farmactive. The deal was closed on June 2, 2023, according to data from the SPARK-Interfax system.

According to Mikhail Burmistrov, general director of Infoline Analytics, the deal between the parties has become cash-strapped. Nikolay Bespalov, Development Director of RNC Pharma, suggested that Farmactive could have committed to purchasing raw materials from Gan & Lee Pharmaceuticals instead of Endogenics. It became unprofitable to develop business in Russia for foreign manufacturers due to problems with logistics and an increase in the share in this market of domestic pharmaceutical companies, which began to gain an advantage in public procurement subject to the use of domestic raw materials, the expert added.

The largest Chinese insulin manufacturer Gan & Lee Pharmaceuticals withdrew from the capital of the Russian company Endojenix

DSM Group CEO Sergei Shulyak admitted that the Chinese pharmaceutical giant will not cease to cooperate with the Russian manufacturer. According to him, even five percent, which is the company's share in the Russian market, provides cash flow of billions of dollars. Endojenix has prospects for further growth and growth of its share, for this the company needs to begin to actively participate in tenders and promote its product among specialists and patients, Shulyak summed up.^[1]

2012-2020

Endojenix LLC was established in 2012 as a joint venture between Gan & Lee Pharmaceuticals and Pharmaktiva, which at that time was owned by the former general director of Microgen Lev Grigoriev (51%) and a native of Pharmstandard Pavel Smachkov (49%). In 2020, 100% of Pharmaktiv's shares were received by Trio Farm LLC Grigoriev, Smachkov and Victor Nazarov (each with 33.33%).

Notes