Rafarma Pharmaceuticals (RAFA) Announces New President as Part of Pending Acquisition of Majority Interest

Mr. Horn’s appointment is the first stage in a substantial management overhaul as part of ongoing negotiations to acquire the current majority shareholder’s interest by Sistema JSFC, the largest publicly-traded diversified holding company in Russia and the CIS. Sistema is now one of Russia’s top ten companies by revenues and is one of the largest investment companies in the world. The group owns a diverse set of public and private companies, which it holds in several distinct portfolios. Sistema’s acquisition continues the company’s strategy of gaining full reporting status and increasing transparency.

Operating from a new 270,000 square-foot state-of-the-art manufacturing and distribution facility in Russia, Rafarma Pharmaceuticals produces generic antibiotics and specialty pharmaceuticals in addition to its own line of proprietary products that are approved by the Ministry of Health of Russian Federation. For the last three years, the Russian Government has been highly focused on bolstering the development of the nation’s domestic pharmaceutical industry. Rafarma’s mission is to work under the auspices of these aggressive federal initiatives to fast-track the modernization of Russia’s pharmaceutical industry.

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