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Protek to Spend $200 Million on Russian Drugstore Acquisitions
OAO Protek, the Russian drug company that raised $400 million in an intitial public offering last month, plans to spend half of that money on acquisitions, including to expand its Rigla chain of stores.
Protek, which has wholesale and retail operations, is looking at acquiring assets in several regions of Russia, Chief Executive Officer Alexei Molchanov said at a conference in St. Petersburg today.