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Veropharm opened an overdraft credit from Sberbank
Veropharm signed an agreement with Central-Chernozemic bank of Sberbank on loaning a 10 mil rub overdraft credit under 10.5% per annum, said in the company's announcement.
Also Veropharm's BOD approved a contract on opening a credit line in Sberbank in currency with 1.9 mil rub credit limit, on 18 months terms, and on 1.85 mil rub for no longer then 18 months.
Veropharm is one of Russian leading pharmaceutical manufactures. It produces above 180 pharmaceuticals, as well as medical plasters of more than 100 kinds. The Company's production facilities are situated in Belgorod, Voronezh and Pokrov (Vladimir Region).
51% of Veropharm shares are held by Pharmacy Chain 36.6 ; 49% are floating securities. In April 2006, Pharmacy Chain 36.6 and Troika Dialog floated 49% of Veropharm shares worth $139.7 million.