RUSSIAN SUBSIDIARY OF JOHNSON&JOHNSON TRYING TO GET 580 MILLION FROM BIOTECH

RUSSIAN SUBSIDIARY OF JOHNSON&JOHNSON TRYING TO GET 580 MILLION FROM BIOTECH

RUSSIAN SUBSIDIARY OF JOHNSON&JOHNSON TRYING TO GET 580 MILLION FROM BIOTECH
A subsidiary of the American corporation Johnson & Johnson (JNJ) filed a lawsuit against Biotek.  The amount of claims is about 580 million rubles.  The application itself has not yet been considered, since it was filed on March 14, 2022 (case No. A40-49126/2022).

More than a month ago, Biotek itself announced its intention to go bankrupt on the Fedresurs platform. Johnson & Johnson was listed LLC as one of the creditors, along with the Bank Saint Petersburg and Pharmstandard.  However, already on February 25, company representatives canceled the informational message, stating a “technical error”.

Biotech Holding was founded by Boris Shpigel in 1991.  In 2003-2013  its founder worked in the Federation Council as a representative of the Penza region.  The Biotek Group of Companies currently includes the Marbiopharm (located in Yoshkar-Ola) and Biodez (Moscow region) plants.
The enterprises produce various medicines, antiseptics and other products distributed through the pharmacy chains.
The company, according to experts, continues to be among the top pharmaceutical companies in Russia.  However, in 2021, the volume of governmental contracts that Biotech structures won earlier has almost halved.  According to analysts, the reason could be the criminal prosecution of Spiegel by the law enforcement agencies.

In March last year, Spiegel was arrested on charges of bribing the former head of the Penza region.  Investigators believe that Ivan Belozertsev received more than 31 million rubles from the founder of Biotek and several other persons (Spiegel's wife and Anton Koloskov, head of the Pharmacy company) in order to receive priority in bidding and concluding deals with the state.

As “gifts” to Belozertsev, a Mercedes V250D minivan and a Breguet watch appear in the case.  Spiegel continues to be in custody (in February, this measure was extended for another three months), considering his misadventures an attempt to raider takeover and redistribution of the market by competitors.  Belozertsev also lost his post due to the "loss of confidence" of the head of the Russian Federation.
 JNJ Corporation, represented in Russia by its subsidiary, continues to operate on the market.
 Unlike other foreign pharmaceutical giants (Bayer, Pfizer), the company announced its intention to continue working on the territory of the Russian Federation and Ukraine, despite the economic sanctions from a number of countries.  According to the statement of the company's chief financial officer Joe Volk, the healthcare sector should become an exception in the stream of sanctions.  In the sales volume of JNJ, the market of Russia and Ukraine is about 1%.

16.03.2022