Back to leadership: how the son-in-law of Sergey Lavrov is building the largest Pharma business

To return leadership

The President of A1 investment company that manages funds of shareholders of “Alfa-Group”, Alexander Vinokurov became the controlling shareholder of the pharmaceutical distributor “SIA international”, said a top Manager of one of the pharmaceutical companies. According to him, the deal was closed in December 2015. What Vinokurov became co-owner of the company, previously confirmed his representative, without specifying the size of the package purchased and its cost. “Pharmaceutical Bulletin” previously, citing a source close to the negotiations, noted that the heirs of the founder “SIA Internejshnl” Igor Rudinskaya will retain part of the business. In “SIA international” are unable on Monday to provide commentary. In a press-service of A1 to a query replied that he did not comment on personal projects managers.

Deputy Director General of Stada CIS Ivan Glushkov estimates the maximum value of “SIA international” excluding debt in 7-8 bn development Director RNC Pharma Nikolay Bespalov estimates from the US more expensive — up to 8-10 billion rubles.

Representative Alexander Vinokurov said that the businessman entered the Xia capital for several reasons: Vinokurov knew the founder of “SIA international” Igor Rudinskaya “many years” after the death Rudinskaya his family turned to Vinokurov to help restructure the company’s business, Vinokourov and the new team of “SIA international” see the prospects of the Russian pharmaceutical industry and companies in this market. In early February, according to the register, the company SIA new Director. They became the new for the pharmaceutical market Manager Alexander Demkin. According to SPARK, Demkin is also General Director of OOO “Everest Group” and LLC “Tuvaasbest”, which is engaged in the mining of asbestos.

The main priority is the return of Vinokourov company in the leading position of the market of pharmaceutical distribution, said the representative. One of the largest pharmaceutical distributors of Russia’s “PROTEK” did not comment on issues related to SIA. However, the main owner of “R-Pharm” Alexey Repik believes that the US has all the chances to regain the lead.

Who is Alexander Vinokourov

Forbes magazine has included 33-year-old Alexander Vinokurov in the list of highest paid young executives. He started his career in 2003 as a trainee in the investment Bank Morgan Stanley, and three years later became the co-Director of the Russian office of TPG Capital Fund.

In 2008 Alexander Vinokurov married the daughter of the Minister of foreign Affairs of the Russian Federation Sergey Lavrov.

In the summer of 2011 Vinokurov became the first Vice President of Summa group of Ziyavudin Magomedov, then, in 2012, the President of the company. At the end of 2014 was the head of investment company A1.

As SIA has ceased to be the first

Igor rudinskaya founded “SIA international” in 1993. According to the rating of DSM Group, the company became the first turnover among Russian pharmaceutical distributors in 2007. Now in this ranking she is ranked fifth. In the ranking of the largest pharmaceutical distributors in Russia, compiled RNC Pharma for the first nine months of 2015, “SIA international” took seventh place with a market share of 7,6% (the same period of the previous year the company’s share was 8.1%; see table).

Igor rudinskaya died in October 2014 after a long illness. Even during his lifetime he agreed to sell a controlling group company “R-Pharm”. In March 2015, the transaction was approved by the Federal Antimonopoly service. However, in the summer of 2015, the company decided to withdraw from the deal, said the owner of “R-Pharm” Alexey Repik. “We decided to focus on producing products and entering the international markets,” he explained.

According to SPARK, the revenues of CJSC “SIA international Ltd” in 2014 amounted to 98.5 bn — 31% more than in 2013. the company’s Net profit in 2014 — almost 144 million roubles In 2015 “SIA international” was an active participant in the courts both as plaintiff and as defendant. According to the SPARK database, the company filed about 150 lawsuits for a total amount of almost 3.5 billion rubles. the very same SIA performed by the defendant in 67 lawsuits for the sum of 5,3 billion rubles on the Claim of RUB 305 mln to SIA filed, in particular, the pharmaceutical manufacturer Gedeon Richter. In Gedeon Richter declined to comment.

In the last three or four years, “SIA international” significantly worsened their financial performance, says Bespalov from RNC Pharma. “The company was still holding on Igor Rudinskaya, he explains. In the last years before his death, he was seriously ill, and he was more difficult to manage the company. He tried to retire, chose the people who handed control of the company, but they have not justified its expectations.”

Alexander Vinokourov and his father Seeds Vinokourov already has assets in pharmaceutical business. Together with his partner Sergey Zhukovsky Alexander Vinokourov and his father, Semyon Vinokurov own company “GEPA” involved in the distribution and localization of drugs, was confirmed by a representative Vinokurov, Jr. This company was founded in 2006, according to the SPARK database, its revenue in 2014 was 47.8 million rubles, net loss — 208,7 mln. Now the key product for “Henty” an anticancer drug “Geftinib”, which is on the order of the company abroad, says development Director RNC Pharma Nikolay Bespalov. According to him, in 2015, “Genta” was supposed to earn on sales of “Geftinib” 50-60 million rubles “Genta” is engaged in the packaging of medicines under the contract for Kurgan “Synthesis”, which are co-owners of “SIA international” and “rostec”.

Partner Of Rostec

In September 2014 the state Corporation “rostec” and pharmaceutical company “GEPA” signed a Memorandum on the establishment of joint ventures, investments in which will amount to $100 million, according to the official website of “Genty”. JV purpose — localization of production of medicines with access to a full cycle of development, clinical trials, production and distribution of drugs, said in a statement. “The venture will combine the three blocks: biotechnology, cancer drugs and antibiotics and hormonal agents. It is planned the development of its own line of import-substituting drugs (over 30 products) and the production of generic drugs of already existing drugs in the most complex and key segments of the market (Oncology, neurology, Nephrology, Hematology, etc.). It is supposed to produce about 60 import-substituting products”, — stated in the press release “Henry”. The site for placement of the enterprise planned to select up to the end of 2015, the plant itself was going to be built for 2015-2016. However, the project is only at the stage of development of the business plan, said the representative of “Natimbi” (“daughter” of “Rostec”).

The representative of the President, responding to questions , noted that the new co-owner, SIA has no intention to join the US and “Gentoo” because it is “different businesses”.

Now before Vinokurov should build on the basis of SIA and “Henry” profitable pharmaceutical business, which includes logistics and manufacturing, says Ivan Glushkov. “Vinokourov will try to repeat the business model of “R-Pharm”, — he said. — “Henry” together with “Natimbi” will have its own production in Russia will be a major plus distributor. In the framework of the import substitution policy is a good model.”

“Maybe SIA will be the supplier for operation on the public market, believes Bespalov from RNC Pharma. — Probably, the company will not merge with “Natimbi” or “Assistance”, but will be to supply those drugs that will be produced jointly with state Corporation”. In “Natimbi” said that currently the company has no plans to acquire a stake in “SIA international”.