Pharmacy sales in Ukraine in January-July 2024 increased by 13.15% in monetary terms compared to the same period in 2023 – up to UAH 110.117 billion, while in physical terms it decreased by 4.25% – to 676.9 million packages, Business Credit reported to Interfax-Ukraine.
According to the company’s research, the weighted average price of pharmacy basket items during this period was UAH 162.68, which is 18.18% more than in January-July 2023.
At the same time, pharmacy sales of medicines for the reporting 7 months of 2014 increased by 13.24% compared to the same period in 2023 – to UAH 86.296 billion, but in physical terms decreased by 4.7% – to 473.269 million packs. The weighted average retail price of medicines amounted to UAH 182.34 per unit (+18.82%).
According to Business Credit, in monetary terms, sales of disinfectants demonstrated the highest dynamics in January-July. In monetary terms, their pharmacy sales grew by 21.47% compared to the same period last year to almost UAH 16.855 million, but decreased in physical terms by 7.58% to 155.738 thousand packs. The weighted average price in this segment amounted to UAH 108.23 (+31.44%) over seven months.
Sales of dietary supplements through pharmacy chains in January-July 2024 increased by 16.2% in monetary terms to UAH 11.367 billion, but decreased by 1.3% in physical terms to 57.421 million packs. The weighted average price in this segment increased by 18.73% to UAH 197.97 per unit.
As reported, pharmacy sales in Ukraine in the first half of 2024 increased by 12.67% in monetary terms compared to the same period in 2023 – to UAH 94.784 billion, while in physical terms it decreased by 4.7% to 583.21 million packs.
The weighted average price of pharmacy basket products for this period amounted to UAH 162.52 (+18.25%).
At the same time, sales of medicinal products in pharmacy retail in the first half of this year amounted to UAH 74.258 billion (+12.68%), but in physical terms decreased by 5.13% to 408.796 million packs. The weighted average retail price of medicines in this reporting period amounted to UAH 181.65 per unit (+18.67%).
In 2023, pharmacy sales in Ukraine increased by almost 21.67% in monetary terms compared to 2022, to UAH 174.249 billion, while in physical terms they decreased by 4.76%, to 1.218 billion packs.
Smart Energy Group has launched wells at the Vasyschyvske field (Kharkiv region), according to a press release on Thursday.
“After unblocking the special production permits, it took us only a month to get the first company (Prom-Energo Product LLC – IF-U) back to work,” said Oleksiy Zayats, acting CEO of Smart Energy.
According to him, in order to comply with the laws, rules and regulations of the oil and gas industry, the company has carried out coordination procedures at all levels, diagnosed the equipment involved, as well as purchased new equipment, assembled a team and established its work.
“We will continue to invest in the development of gas production. The group is currently looking for opportunities to resume long-term development programs, which includes continuing the drilling program, building new infrastructure and modernizing existing equipment,” he added.
According to the press service, the day before the shutdown, the daily production of the group’s companies in Kharkiv region was about 450 thousand cubic meters. Due to the prolonged shutdown, well productivity decreased.
In particular, at the first stage of the Vasyschyvske field, production rates are 25 thousand cubic meters per day, which is half the level before the shutdown. In addition, in October 2023, the Russian aggressor attacked one of Ukrgasvydobuvannya’s gas production facilities, which resulted in significant damage to the equipment of the gas treatment unit.
“Now it will take time and investment to restore it,” Smart Energy summarized.
As reported, the State Service of Geology and Subsoil of Ukraine renewed three special production and development licenses in accordance with Order No. 293 of June 26, 2024: the Ostroverkhivske field of PJSC Ukrgasvydobutok, the Vasyshivske field of Prom-Energo Product LLC (both in Kharkiv region) and the Svystunkivsko-Chervonolutske field (Poltava region) of Arkona Gas-Energy LLC.
The renewal of these licenses became possible after the National Security and Defense Council of Ukraine (NSDC) amended its decision on personal sanctions against Vadym Novynskyi on December 1, 2022, on June 24, 2024.
The State Service of Geology and Subsoil suspended these three special permits in early May 2023, and Smart Energy estimated the daily downtime of the fields at 0.45 million cubic meters of gas and the loss of UAH 5.5 million in taxes.
Smart Energy Group is part of the Smart Holding investment group, implements projects for the exploration and commercial development of hydrocarbon fields and was one of the five largest private gas producers in Ukraine, producing more than one million cubic meters of gas per day at the beginning of the full-scale Russian military aggression.
Prior to the full-scale invasion, the hydrocarbon reserves of Smart Energy Group’s gas production assets were estimated at C1+C2 categories in the amount of 22.633 billion cubic meters of gas and 3.722 million tons of condensate.
Smart Energy’s oil and gas business is represented by Ukrgasvydobutok and Enwell Energy, a publicly traded British company.
For its part, Enwell Energy owns Regal Petroleum Corporation Limited and Arkona Gas-Energy in Poltava region, and Prom-Energo Product in Kharkiv region.
On Thursday, the international chain JYSK opened a renovated, largest JYSK store in Vinnytsia (1a Yevhen Pikusa St., Kvartal shopping center), the company’s press service reported.
According to the press release, JYSK Country Director in Ukraine Yevhen Ivanitsa said that the store has increased storage space, updated lighting, commercial equipment, and plans to improve logistics ergonomics. Its selling area is 1076 sq.m., the warehouse area is 275 sq.m. (it was increased by 21 sq.m.). The store also has a new office space with an area of 35 sq.m.
The store was rebuilt in accordance with the modern JYSK 3.0 store concept.
JYSK also announced new signed lease agreements. Currently, the chain has 98 operating stores, and it is planned to expand to 105 outlets by the end of the year. In particular, it is planned to open the ninth store in Lviv and the 37th in the Kyiv agglomeration.
JYSK Ukraine employs more than 800 people.
JYSK is part of the family-owned Lars Larsen Group with more than 3.4 thousand stores in 48 countries. JYSK’s revenue in the financial year 2022/23 amounted to EUR 5.2 billion.
Indian Prime Minister Narendra Modi has invited Ukrainian President Volodymyr Zelensky to visit India “on a mutually convenient occasion,” the relevant 32nd paragraph concludes the joint statement of Ukraine and India following the prime minister’s visit to Kiev.
“It is quite natural that on such occasions he (Modi) extends an invitation, which he did in this case. So we expect that the moment it suits him, President Zelensky will visit India,” Indian Foreign Minister Subramanyam Jaishankar commented on the invitation at a press briefing in Kiev on Friday.
As reported, Indian Prime Minister Narendra Modi met with Ukrainian President Volodymyr Zelensky in Kiev on Friday. This is the first visit of an Indian prime minister to Ukraine since the latter gained independence in 1991.
On August 21, 2024, the American Chamber of Commerce in Ukraine (AmCham Ukraine) held a reception in Kyiv to celebrate Ukraine’s Independence Day. The event brought together AmCham members, diplomats, and business representatives, becoming an important event in the capital’s business life.
The event began with greetings from AmCham leadership. AmCham President Andy Hunder emphasized the importance of partnership between Ukraine and the United States and expressed confidence in further development of bilateral economic relations. Special attention was paid to the challenges facing Ukrainian business in the context of the ongoing war and global economic instability.
Today, AmCham Ukraine unites over 600 member companies, making it one of the largest and most influential business associations in Ukraine. To effectively protect business interests and address key issues in various sectors of the economy, the Chamber has 24 specialized committees covering such areas as finance, IT, healthcare, agribusiness, and others.
AmCham Ukraine’s Board of Directors plays an important role in managing the organization, providing strategic recommendations and professional expertise. The Board consists of:
Executive Committee:
Olena Koszarny – Chair of the Board (Horizon Capital)
Arvid Turkner – Vice Chair (EBRD)
Alex McWhorter – Deputy Chairman of the Board (Citi Ukraine)
Sergiy Martynchuk – Treasurer (Cisco)
Sergiy Chorny – Legal Counsel and Secretary (Baker McKenzie)
Directors:
Yulia Badritdinova – General Director, McDonald’s Ukraine
Vasyl Bovdilov – General Director, Unilever Ukraine
Mikhail Bubnov – CEO, Schneider Electric Ukraine
Oleg Khaidakin – CEO, Carlsberg Ukraine
Michael Kharenko – Partner, Sayenko Kharenko
Leonid Polupan – CEO, Microsoft Ukraine
Petro Rondiyak – Chairman of the Board of Directors, Winner Group Ukraine
Andrzej Ruzicki – CEO, Bunge Ukraine
Olena Sereda – Director of Corporate Affairs and Legal Affairs, Coca-Cola Ukraine
Andriy Tsymbal – CEO, KPMG Ukraine
Vasyl Varvaroi – General Director, Cargill Ukraine
The reception, organized by the American Chamber of Commerce in Ukraine, demonstrated the unity and commitment of Ukrainian business to develop in the face of global challenges. The event once again emphasized the importance of international partnership and AmCham Ukraine’s role in supporting economic stability and growth in the country.
Interfax-Ukraine is a member of the American Chamber of Commerce in Ukraine and an official service provider of AmCham Ukraine.
Total allocated reinsurance capital grew 7% in 2023, to $568 billion, and is forecast to grow even more to $625 billion for 2024, according to the Reinsurance News website, citing a report from credit rating agency AM Best.
According to the report, traditional reinsurance capital increased 14% year-on-year in 2023, by about $57bn to $468bn.
According to AM Best, apart from Berkshire Hathaway National Indemnity, the most significant capital growth came from Bermuda, thanks to strong operating profits reported by various Bermudian companies.
AM Best forecasts for 2024 traditional reinsurance capital growth of 10% to $515 billion, while third party capital is expected to be between $105 billion and $110 billion.
Thus, total allocated reinsurance capital at the end of 2024 is estimated at $620 billion to $625 billion, and AM Best analysts expect this market to continue to thrive through 2024.
