Putin names little known firm to run pharma company spun off from Germany's Stada

Putin's Asset Management Decree: Russian President Vladimir Putin has appointed a little-known company, Pharmirus, to manage assets linked to the German pharmaceutical firm Stada, which has exited Russia and spun off its operations into a separate entity called Nizhpharm.

Impact on Foreign Businesses: The decree is part of a broader trend where Russia has taken control of foreign-owned assets amid the ongoing conflict in Ukraine, with previous instances involving various international companies, while also indicating that returning Western firms may face challenges due to local competition.