Business news from Ukraine

LEKHIM PLANS TO BUY BACK REMAINING SHARES OF TECHNOLOG PHARMACEUTICAL PLANT

KYIV. Dec 12 (Interfax-Ukraine) – JSC Lekhim pharmaceutical company (Kyiv) together with a group of persons on the basis of an agreement on coordination of actions for redemption of shares in CJSC Technolog pharmaceutical plant (Uman, Cherkasy region) plans to buy back the remaining shares of the enterprise.
According to a report on the website, Lekhim together with a group of individuals, owning the dominant controlling interest (98.89%) of Technolog, are planning to buy out the remaining 2.627 million shares, which is 1.11% of their total number.
Lekhim heads a group of companies, which, in addition to CJSC Technolog, includes PJSC Lekhim-Kharkiv.
At present, the product portfolio of Lekhim includes more than 160 trade names, in particular, medicines for treatment of digestive, cardiovascular, respiratory, nervous systems, blood and hemopoiesis systems, musculoskeletal system, antimicrobial, dermatological agents, as well as biologically active additives, medical products, veterinary drugs.
In October 2017 Technolog pharmaceutical factory on the results of the inspection received the European certificate GMP (Good Manufacturing Practice).

INTERCHEM PHARMACEUTICAL COMPANY LAUNCHES NEW COMPLEX FOR API PRODUCTION

KYIV. Dec 12 (Interfax-Ukraine – Interchem pharmaceutical company (Odesa) has launched a new laboratory and production complex for production of active pharmaceutical ingredients (API) in Odesa.
Interchem CEO Anatoliy Reder told Interfax-Ukraine during the celebrations dedicated to the company’s 25th anniversary, the launch of the new API production complex is the final stage of the investment program worth EUR50 million, which is being implemented since 2012.
Investments in the new API complex amounted to about EUR9 million.
Reder noted the opening of this complex won’t bring money immediately, it is an investment that will consolidate the company’s position in the market.
According to him, Interchem plans to use APIs produced at the new complex mainly for its own needs.
“Today we use about 85% of produced APIs for our own needs and sell about 15%, while we receive orders for some APIs from abroad. We are studying the possibilities of export,” he said.
Reder noted the equipment of the complex will fully ensure the implementation of environmental standards and requirements, completely excluding the possibility of contact of chemicals with the environment.
In addition, the equipment will allow producing finely dispersed APIs and small batches of substances.

UKRNAFTA RESUMES PRODUCTION IN SIX FIELDS

KYIV. Dec 12 (Interfax-Ukraine) – Public joint-stock company Ukrnafta is resuming production in the Anastasiyivske, Artiukhivske, Korzhyvske, Pivdenno-Panasivske, Rybalske and Zavodske fields, the company’s press service has reported.
“Operations at 80 out of 132 production wells have been resumed. Thanks to the resumption of six fields Ukrnafta has increased daily production of oil, condensate and gas. From the beginning of December daily oil and condensate production grew to 3,900 tonnes, which is 18% higher than in the period of forced stopping of operations at the fields. In the same period, average daily gas production grew by 12%, to 2.9 million cubic meters,” the company said.
At the same time, Ukrnafta said that, despite the upward pace, the level of production has not yet recovered to the previous level.
“In the first quarter of 2017, before the stop of the first of the six fields, the company produced 4,100 tonnes of oil with condensate per day and 3.5 million cubic meters of gas,” the press service said.
“We are doing everything we can to restore production, but we knew that we would likely not return production to pre-shut in levels for various reasons – including damage to the formation due to well suspension operations, low reservoir pressures, and other equipment failures. In some of the gas fields, we may never recover. Because of these license problems and uncertainty of shut-in duration, we were forced to delay much needed improvements and investments,” Deputy Board Chairman of Ukrnafta Mavriky Kalugin said.