Celesio in negotiations to acquire majority stake in Protek
Protek Group is a vertically integrated pharmaceutical holding that combines distribution (including drug import and pre-wholesale), retail pharmacy, packaging, contract manufacturing and contract sales activities. Protek Holding owns the second largest pharmacy chain in Russia with 630 pharmacies. Last year the pharmacy chain achieved a turnover of around $250 million. Fritz Oesterle, chairman of the Celesio board, said: "We believe that the Russian economic environment in general, the pharmaceutical market in particular and especially Protek are great and attractive opportunities for Celesio. We will support the existing strong retail and wholesale activities and the further development of the Protek Group as the leading Russian pharmaceutical holding."