Germany's STADA pharmaceutical company is acquiring pharmaceutical business of prescription and OTC preparations of Biopharma blood product manufacturer.

According to a STADA press release on Monday, Biopharma's pharmaceutical business will become an integral part of STADA in Ukraine and has strong growth potential in the production of high-quality prescription and OTC drugs.

The agreement provides for the acquisition of production facilities in the city of Bila Tserkva (Kyiv region).

Biopharma shareholders will preserve the company's plasma processing business and focus on its development both in Ukraine and abroad. To acquire it STADA must obtain permission to merge in Ukraine.

The transaction is expected to close in December 2019.