Farmak pharmaceutical company (Kyiv) will expand its focus to the development of products, which could be presented on global markets, Farmak CEO Volodymyr Kostiuk has said. “In development, we are now focusing on well-regulated markets. The molecules we are developing will be interesting for the global market,” he told Interfax-Ukraine on the sidelines of the Ukrainian Pharmaceutical Forum organized by Adam Smith Conferences in Kyiv.
Kostiuk said that the new molecules, which are developed by scientists of Farmak, “are complex medicines, they will require large investments in development, great knowledge.”
He said that Farmak will continue its strategy of launching at least 20 new products per year on the market, and in the coming years it will be drugs which patent protection expires.
According to him, these are drugs based on 118 molecules.
Kostiuk also said that Farmak plans to increase its export share to 40%.
PJSC Farmak is one of the three leaders in the pharmaceutical industry of Ukraine. It is a member of the Association Manufacturers of Medications of Ukraine (AMMU). The beneficiary of the company is the head of the supervisory board, Filia Zhebrovska.
The volume of remittances by labor migrants to Ukraine this year is expected to exceed $11 billion.
Such a forecast was unveiled by Deputy Governor of the National Bank of Ukraine Oleg Churiy in an interview with UATV.
“The numbers will be slightly higher than last year, but there is a clear tendency to slowdown in the pace of labor migration. This is due to the fact that incomes in Ukraine are growing quite quickly, the nominal growth in wages is about 20%,” Churiy said.
He added that the strengthening of the hryvnia in 2019 by 12% influenced the growth in income in foreign currency equivalent, which is also a positive signal for Ukrainians.
“The volume of dividend repatriation this year is not much different from last year. About $3 billion has been repatriated this year,” Churiy said.According to him, such a level of the indicator does not threaten financial stability, however, the fact that businesses can manage their profit is an attractive factor for investors.
As reported, on September 10, the central bank canceled a monthly limit of EUR5 million for repatriation of funds from the sale of securities, corporate rights, as well as funds received as a result of a decrease in the charter capital of legal entities and withdrawal of foreign investors from business entities.
Ratio of fertility and mortality by Ukrainian regions
The Ministry of Energy and Environment Protection offers renewable energy market participants the voluntary restructuring of feed-in tariffs with its reduction by 17% for existing solar power plants and 10% for wind power plants with the extension of the payment term for five years.
The corresponding bill will be registered in the Verkhovna Rada in the coming days, Kostiantyn Chizhik, the deputy energy minister for European integration, said during the tenth International Investment Forum on Renewable Energy in Kyiv.
According to him, for projects that are planned to be implemented within the framework of signed pre-PPA (contracts for the sale and purchase of electricity at the current feed-in tariff for future facilities), restructuring in the form of a 15% reduction in the feed-in tariff for solar plants and a 10% reduction for wind farms is proposed.
“We expect that, firstly, it will balance the deficit of Guaranteed Buyer and, secondly, it will make tariffs closer to market prices. I want to emphasize that these proposals, perhaps with slight deviations, were supported by the majority of relevant renewable energy associations,” the deputy minister said.
The bill also provides for increased liability of electricity producers for imbalances.
The international reserves of Ukraine in November 2019 increased, according to preliminary data, by 2.5%, or $500 million, to $21.932 billion, according to the website of the National Bank of Ukraine (NBU). According to the central bank, the increase in international reserves is due, first of all, to the maintenance of a favorable situation in the country’s foreign exchange market. The National Bank notes that, despite a significant slowdown in the inflow of foreign capital into government bonds compared to the previous months, currency supply in the market remained significantly greater than demand due to substantial sales of foreign currency by exporters, which allowed the NBU to replenish international reserves by $897.8 million (net purchase). In particular, the central bank bought $777.8 million at a single rate and $120 million by choosing the best rate. The NBU did not carry out any interventions on the sale of currency last month.
According to the report, for the indicated period, $644.7 million was allocated for servicing and repaying the state debt in foreign currency. Of this amount, EUR425.5 million was paid on government domestic loan bonds, $9.2 million on eurobonds. In addition, $84.4 million were allocated to fulfill obligations to the International Monetary Fund.
These expenses were partially offset by revenues of $304.9 million from the placement of government domestic loan bonds denominated in foreign currency, the NBU notes.
Ukraine will send 20 tonnes of batteries for recycling to Romania, Deputy Prime Minister for European and Euro-Atlantic integration of Ukraine Dmytro Kuleba wrote on his Twitter account on Thursday. “Batareiky, Zdavaitesia organization for the first time in Ukraine received permission to recycle batteries in the EU! 20 tonnes will go to Romania,” he said.
“Reforming the waste system under European standards is a step towards the EU,” the minister said.
The organizers said on their Facebook page that the batteries will go for recycling to the GreenWEEE factory, which is located near Buzau. The factory has been recycling batteries since 2011, and has been operating since 2007. It is engaged in the recycling of old electronic equipment.
To send the first batch of collected batteries for recycling, you need a cover letter from the Ministry of Energy and Environmental Protection of Ukraine and approval by the Romanian government. It is expected that it will be received within two to three weeks.
