will buy exclusive rights to distribute Bioton’s insulin in Russia, Rzeczpospolita online reports, without saying where it got the information. According to the information of the rp.pl, the contract would be signed for 15 years. Although the value of the deal is unknown, Rzeczpospolita says it is likely lower than PLN 125m, what agreed to pay for the Chinese distribution rights. , which in July bought the right to sell Bioton’s insulin in China, may become a global distributor for the Polish company, rp.pl speculates.
We consider the news as generally positive for . Although the market has already speculated on selling the distribution rights for Russia, the news indicates that the contract might be on the corner. In our view, however, the Russian distribution rights are unlikely to exceed PLN 50m, some 4% of Bioton’s current market cap.