PJSC “Scientific and Production Center ”Borshchahivsky Chemical and Pharmaceutical Plant” (BCPP) increased its net profit by 2.96% to UAH 281.788 million in 2025.
According to the company’s website, BCHP increased its production of pharmaceutical products by 16% in 2025, reaching 37.4 million packages worth UAH 2.481 billion.
According to the company, total sales of finished products and goods in 2025 amounted to 43.8 million packages, which is 6.9% more than in 2024.
In addition, the company reported that in 2025, BHFZ exported products worth UAH 307 million, accounting for 13.7% of total sales.
BHFZ exported its products to countries in Eastern and Western Europe, the Baltic states, the Caucasus, Central Asia, and other distant foreign markets, as well as to countries within the CIS.
Net sales revenue for 2025 amounted to UAH 2.259 billion, which is 7.9% more than the previous year.
BHFZ forecasts an 18% increase in net sales revenue for 2026 compared to 2025. Annual growth during 2027–2028 is expected to be 13%
The company also reported that in 2025, BHFZ was developing 12 drugs in four dosage forms; one clinical trial was completed, and preparations are underway for two more clinical trials.
Additionally, BHFZ completed the registration process for one drug in Ukraine and seven abroad.
In total, in 2025, BHFZ registered four finished pharmaceutical products and five APIs. One drug was submitted for registration in CIS countries, and four drugs were registered in countries outside the CIS.
The company noted that BHFZ is striving to maintain retail prices at pre-war levels and has adjusted its product portfolio to account for wartime conditions; it has also managed to maintain the continuity of supply chains.
In addition, the BHFZ Group has created the necessary reserve of production stocks and raw materials, which is constantly updated, to ensure uninterrupted production throughout 2026.
As reported, BHFZ is seeking to recover UAH 50.7 million in damages from the Russian Federation for the destruction and damage of property resulting from armed aggression, specifically the destruction and damage of property caused by a rocket attack on July 31, 2025.
The court accepted the statement of claim for consideration and opened proceedings in the case. As part of the investigation, an expert assessment was conducted, according to which the amount of direct (actual) damages caused to BHFZ as a result of the loss, destruction, or damage to property (fixed assets and inventory according to the lists) in connection with the armed aggression of the Russian Federation (as a result of the explosion and fire on July 31, 2025) amounts to UAH 50,760,894, which, at the NBU exchange rate as of the date of the assessment (July 31, 2025), is equivalent to $1,215,358.
Currently, the shareholders of BHFZ are the pharmaceutical company PJSC “Pharmaceutical Firm ‘Darnitsa’ (Kyiv), which owns 31.8% of BHFZ’s shares; other shareholders include ”Beldor Group“ (21.26%) and ”Lenik Group” (20.32%) .
The ultimate beneficiaries of BHFZ are the beneficiaries of the pharmaceutical company “Darnitsa”: Gleb Zagoriy, Yevgen Sova, Tetiana Artemenko, Mykola Bezpalko, and Oleg Goloborodko.
Serbian Foreign Minister Marko Đurić has stated that Belgrade hopes to confirm Ukraine’s participation in the specialised Expo 2027 exhibition, which is due to take place in the Serbian capital from 15 May to 15 August 2027, according to the Telegram channel ‘Serbian Economist’.
Đurić posted this on X following a meeting with Ukraine’s Ambassador to Serbia, Oleksandr Litvinenko. According to the Serbian Foreign Minister, the parties discussed further intensifying political dialogue, supporting bilateral political consultations and improving trade cooperation between the two countries.
He also thanked Ukraine for its principled stance on the issue of respecting the territorial integrity and sovereignty of the Republic of Serbia.
“As Serbia and Ukraine traditionally enjoy very good relations, we hope to confirm Ukraine’s participation in the upcoming EXPO 2027 specialised exhibition,” the Serbian Foreign Minister emphasised.
For Belgrade, Ukraine’s potential participation in Expo 2027 has not only diplomatic but also economic significance. Serbia is seeking to use the exhibition as a tool for expanding trade, investment and logistics ties, as well as a platform for promoting the country as a regional hub for the Western Balkans.
For Ukraine, participation in Expo 2027 could provide an opportunity to present in Serbia not only a national pavilion but also a business programme focused on reconstruction, the agro-industrial sector, energy, IT, construction materials, logistics and industrial cooperation.
Expo 2027 Belgrade will be held under the theme “Play for Humanity: Sport and Music for All”. It will be the first specialised Expo hosted by Serbia and the region of the former Yugoslavia. According to the Bureau International des Expositions, the Belgrade site is set to welcome over 130 countries, more than 6 million visitors and over 8,000 events during the 93-day programme.
According to the official Expo 2027 website, 137 countries have formally confirmed their participation to date. These include Japan, South Korea, China, Turkey, Hungary, Austria, Switzerland, Slovakia, Azerbaijan, Ecuador, Monaco, as well as a number of countries from Africa, Asia, Oceania and Latin America. In March 2026, Belgrade also hosted the second international meeting of Expo 2027 participants, which, according to the Serbian government, was attended by representatives from 138 countries.
A distinctive feature of the Belgrade Expo is that it is intended to be not a general world exhibition, but a specialised Expo – that is, a more focused international event with a limited theme and duration. For Serbia, this is the largest image-building and infrastructure project of the decade: it involves the construction of a new exhibition complex in Surčin, the development of transport infrastructure, the hotel sector, the city’s economy and Belgrade’s international positioning.
More than 500 foreign investors who have obtained Portuguese Golden Visas are preparing a class-action lawsuit against the government over a new citizenship law that extends the waiting period for applying for a Portuguese passport.
This concerns holders of ARI investment residence permits, known as “Golden Visas.” According to The Portugal News, investors believe the rule change violates their legitimate expectations, as many joined the program expecting to be able to apply for citizenship after five years of residency. Now, for some applicants, that timeframe could extend to eight or ten years.
The initiative brings together investors of various nationalities, with U.S. citizens being particularly prominent. The group’s members intend to first explore legal avenues within Portugal and then, if necessary, consider options for appealing at the European level.
The investors’ main complaint concerns the retroactive effect of the reform. Many Golden Visa holders had already been living in Portugal for several years, investing in funds, businesses, or real estate, and had planned to apply for citizenship under the old terms. In one example cited in the Portuguese press, an investor was less than two months away from completing the five-year period when the rules were changed.
The Portuguese Golden Visa has long been one of the most popular investment-based residency programs in the EU. It allowed foreigners to obtain a residence permit by meeting investment requirements and with minimal physical presence in the country, and then apply for citizenship after a set period of residence. However, in recent years, Portuguese authorities have consistently tightened their migration and investment policies.
This dispute is of significant importance for the real estate market and investment migration. If the courts rule that the new deadlines should not apply to existing investors, this will preserve some of the program’s credibility. If the state prevails, Portugal could face reputational damage among investors who viewed its rules as stable and predictable.
The changes could also affect other EU countries, where residence and citizenship programs are increasingly becoming the subject of political debate. Amid rising housing prices, migration pressure, and criticism of “golden visas,” governments are seeking to tighten conditions, but investors are demanding protection of previously acquired rights.
A Ukrainian business delegation will visit Belgrade on May 19–21, 2026, as part of a visit to Serbia by Ukrainian Deputy Prime Minister Taras Kachka, the Ukrainian Chamber of Commerce and Industry announced.
The main business event of the trip will be the Ukrainian-Serbian Business Forum, which is intended to serve as a platform for direct negotiations between companies from both countries, establishing new contacts, and discussing practical areas of economic cooperation.
The Ukrainian Chamber of Commerce and Industry invites companies from the agro-industrial sector, fertilizer production, construction, the electrical engineering industry, agricultural machinery manufacturing, energy, and other sectors to participate.
The mission’s program includes B2B meetings with Serbian companies, visits to enterprises, the search for new partners, and discussions on joint projects.
Registration is open at the following link: https://forms.gle/gkyXVSa2E8vnzQTd8
Contact person: Valeria Zabashta, +380 50 366 4997.
For Ukrainian businesses, Serbia may be of interest not only as a separate market but also as a logistics and manufacturing hub for accessing the Western Balkan countries—North Macedonia, Bosnia and Herzegovina, Montenegro, and other markets in the region.
The most practical areas for cooperation could include the agro-industrial complex, food processing, construction materials, energy equipment, agricultural machinery, electrical products, logistics, and industrial cooperation. The participation of Serbian companies in projects to restore Ukrainian infrastructure, energy systems, and industrial facilities may be of particular interest in the future.
The involvement of the Ukrainian Chamber of Commerce and Industry creates an institutional channel for developing bilateral business contacts, including issues related to certification, finding reliable partners, logistics, B2B communication, and support for joint projects.
The Ukrainian delegation’s visit to Belgrade could be a step toward shifting Ukrainian-Serbian economic relations to a more practical business plane and expanding the presence of Ukrainian businesses in the markets of Southeast Europe.
Slovakia has reopened border crossings with Ukraine that had previously been closed due to a massive airstrike on border regions, DennikN reports.
“Border crossings with Ukraine are open again in both directions; according to police, the situation remains calm for now,” the report states.
Border processing resumed at 5:47 p.m. Kyiv time. According to police, the crossings had been temporarily closed on the Ukrainian side.
As previously reported, the Slovak side closed all border checkpoints on the border with Ukraine on Wednesday, according to Slovakia’s Financial Administration.
S1 REIT, an investment firm that manages real estate funds under the REIT model, has begun selling certificates for the S1 Plaza Poznyaki commercial real estate REIT fund, the company’s press office announced.
According to the press release, the initial investment amount is 1,000 UAH, with the option to increase the share by amounts starting at 100 UAH. The projected annual yield is 10.4% in currency.
As previously reported, the National Securities and Stock Market Commission (NSSMC) registered the prospectus and the issuance of investment certificates for the S1 Plaza Poznyaki REIT with a total nominal value of UAH 600 million, each with a nominal value of UAH 100, in a total quantity of 6 million units.
The “S1 Plaza Poznyaki” shopping center, with a total area of 5,000 square meters, is part of a large-scale residential project by developer Standard One. The property is being built in the Darnytskyi district of Kyiv, near the “Poznyaki” metro station and Lake Sribnyi Kol. The complex is designed to accommodate over 750 apartments.
S1 REIT is Ukraine’s first operator of collective investments in income-generating real estate. The company operates under the Real Estate Investment Trust (REIT) model, providing investors with the opportunity to participate in the ownership and receipt of income from profitable properties without direct asset management.
Three funds are available for investment: “S1 VDNH,” S1 Obolon, and “S1 Plaza Poznyaki.” The assets of these funds consist of income-generating real estate based on development projects by Standard One.
CERTIFICATE, INVESTMENT COMPANY, REIT fund, S1 Plaza Poznyaki, S1 REIT
