Business news from Ukraine

Business news from Ukraine

UKRAINIAN SUPREME COURT SENDS WELL-KNOWN MEDICINE BRAND CORVALOL CASE TO GRAND CHAMBER

The Supreme Court has sent a case opened vis-à-vis the well-known medicine brand Corvalol Corvalolum to the Grand Chamber of the Supreme Court. This decision was taken by the court on Tuesday, Head of the Legal Department of PJSC Farmak, lawyer Dmytro Taranchuk has told Interfax-Ukraine.
Having taken this decision, the Supreme Court granted the request of a third party – PJSC Farmak – on sending the case to the Grand Chamber of the Supreme Court.
“This is a lawful decision and was taken in line with all procedural requirements; it will provide an impartial and objective consideration of the case,” the lawyer said.
As reported, the appeal chamber of Ukraine’s Economic Development and Trade Ministry on June 20, 2017, declared the Corvalol Corvalolum trademark used by PJSC Farmak as a well-known one.
Kyiv-based Darnitsa pharmaceutical firm in turn seeks the legal right to produce its own medicine, Corvalol. The firm appealed to the business court of Kyiv seeking to declare the decision of the ministry unlawful. The court of lower instance dismissed Darnitsa’s lawsuit, while Kyiv’s business court of appeals upheld the firm’s counterclaim.
Farmak declares that the name “Corvalol,” which has been produced since 1960, belongs to the company, as the medication was created in 1960 by Lomonosov Kyiv Chemical-Pharmaceutical Plant, and Farmak is the legal successor of the plant.
Since 1991, PJSC Farmak has been the only manufacturer of this medication in the post-Soviet space. The trademark Corvalol is protected in 15 countries of Europe and Central Asia: Germany, Poland, Lithuania, Latvia, Belarus, Moldova, Romania, Bulgaria, Turkmenistan, Armenia, Georgia, Azerbaijan, Tajikistan, Kyrgyzstan, and Kazakhstan.
Darnitsa pharmaceutical firm is one of the ten largest pharmaceutical producers in Ukraine and belongs to the top ten hospital suppliers. The ultimate beneficiary is Hlib Zahoriy.
PJSC Farmak is among Ukraine’s top three pharmaceutical producers and is a member of the Association Manufacturers of Medications of Ukraine (AMMU). PJSC Farmak’s beneficiary is Chairperson of PJSC Farmak’s supervisory board Filia Zhebrovska.

, , , ,

FRENCH SPORTSWEAR BRAND DECATHLON TO LAUNCH ONLINE STORE IN UKRAINE

The French sportswear brand Decathlon, part of the international Auchan Group, is to launch an online store in Ukraine in the spring of 2019 simultaneously with its first physical retail outlet, and announces plans to expand production in the country. “In six months, in the spring of 2019, we will open our first store in the north of Kyiv – in Retail Park Petrivka. Simultaneously, we will open an online store,” CEO of Decathlon Ukraine Florent Guieu said at a press conference on Tuesday. According to him, the company plans to cover the entire territory of Ukraine with its online store. The delivery of goods will be carried out from a warehouse located in Poland near the border with Ukraine. The online store will offer both delivery and customer pickup from the physical retail outlet.
Guieu also said that the company plans to expand production of own goods in Ukraine, which was launched in 2012.
“Ukraine is a fantastic country for production. We want to maximize the capacities for the production of footwear and non-technical goods here. We will try to produce more in Ukraine for the European market … Production is partnership, we do not own production facilities [in the countries of presence] with a few exceptions,” Guieu told Interfax-Ukraine in a comment.
In Ukraine, Decathlon produces goods in Zakarpattia, Sumy and Chernihiv regions.

, , ,