Business news from Ukraine


The Farmak pharmaceutical company (Kyiv), thanks to the decision of Kyiv City Council to sell a land plot to the pharmaceutical company, plans to develop an R&D cluster project.
According to a press release on the company’s website, on February 11 this year, Kyiv City Council, by an absolute majority of votes, decided to sell the company the land on which the production facilities of Farmak plant have been located for 95 years.
The intended use of land defined by the document is the operation and maintenance of a complex of buildings and structures.
“Farmak expresses gratitude to the deputies for supporting the development of a virtuous and transparent business. Production facilities, research facilities, the laboratory and technical complex of the enterprise are internationally certified and meet the high requirements of European standards. Now, thanks to the positive decision of the city council, we will be able to implement another ambitious project – the creation of a pharmaceutical R&D cluster to build up scientific and technical potential,” executive director of the company Volodymyr Kostiuk said.
He recalled that over the past 25 years, Farmak has invested more than $ 300 million in the modernization of the enterprise.
Technical director of Farmak Andriy Goy, in turn, emphasized that the creation of the R&D cluster will be a step forward towards the development of biomedical research and development in Ukraine and an important step towards the transformation of Kyiv into the capital of the European level.
“The main capital of Kyiv should be precisely an intellectual product,” he said.
The company is confident that the emergence of an R&D cluster will contribute to an increase in revenues to the city budget from knowledge-intensive sectors of the economy.

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Ukraine and Georgia could create a medical tourism cluster to promote medical services in the markets of Eastern countries, in particular, China, Paata Ratiani, the head of the Georgian Medical Tourism Council, has said.
“Georgia, together with Ukraine, can open some directions in China, open a joint clinic, or Ukrainian and Georgian clinics can be combined into one cluster,” he said.
According to Ratiani, such a cluster can be formed together with the Ukrainian Association of Medical Tourism, as well as with individual clinics.
“We can occupy our niche in all directions. Most importantly, we should work together and develop precisely those directions that have an advantage in their region. In this case, the flow of medical tourists will be enough for both Ukraine and Georgia,” the expert said.
Commenting on the development of medical tourism in Georgia, he said that in order to attract foreign patients, six large private clinics in his country created the Medical Tourism Council.
“Georgian private clinics teamed up to make Georgia a regional hub for medical tourism,” he said.

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