Chemo Group


"Iranian media reported in March 2016 that Barakat Pharmed had signed a $15 million deal for Spain-based pharmaceutical company Chemo Group to buy a 65 percent stake in a Barakat subsidiary. A 2016 Barakat annual report states that 65 percent of shares of Ati Pharmed, previously owned by Barakat and Alborz Investment Group, a Barakat subsidiary, were transferred to Chemo. A person familiar with Ati Pharmed affairs confirmed the transfer. Chemo officials did not respond to requests for comment." (Reuters, "Post-Sanctions Deals with Iranian Firms Linked to Khamenei," 1/19/2017).