Business news from Ukraine


The supervisory board of the pharmaceutical company Farmak (Kyiv) has re-elected Volodymyr Kostiuk as Executive Director.
According to the company’s press service, the relevant decision was made on December 17.
As reported, JSC Farmak (Kyiv) over 2020 received net profit of about UAH 1.138 billion, which is almost 7.8% more than in 2019 (UAH 1.056 billion). Over 2019, Farmak received net profit of UAH 1.056 billion, which almost coincided with the figure for 2018 – UAH 1.05 billion; and over 2018, it increased its net profit by 25.16%.
Farmak is the leader in the pharmaceutical market with a 5.9% share in monetary terms. The company manufactures medicines in all fourteen therapeutic groups. The main directions are anti-cold, endocrine, gastroenterological, cardiovascular, and neurological portfolios. Every year Farmak introduces to the market about 20 new complex-component modern drugs, about 100 drugs are currently in development.
According to the State Register, the ultimate beneficial owner of Farmak is head of the supervisory board, Filya Zhebrovska, who owns 80% of the company’s shares.



In January-June 2021, the Latvian pharmaceutical concern Olainfarm increased sales of products in Ukraine by 24% compared to the same period in 2020, to EUR 6.313 million.
According to the company’s materials, the improvement of this indicator has been facilitated by the introduction of a new marketing model in Ukraine since the end of 2020.
In general, over the six months of 2021, the group’s sales reached EUR 66.671 million, which is almost the same as the level of sales for the same period in 2020.
The largest markets for Olainfarm Group were Latvia (30%), Russia (about 27%), Belarus (about 12%), and Ukraine (over 9%).
Olainfarm is the largest pharmaceutical company in Latvia and one of the largest pharmaceutical companies in the Baltic States. Its product portfolio includes over 60 finished dosage forms, 25 active pharmaceutical ingredients and over 20 chemical intermediates.
Subsidiaries are located in Ukraine, Lithuania, Turkey and Kyrgyzstan, and representative offices – in the Russian Federation, Belarus, Tajikistan, Albania, Mongolia, and Uzbekistan.

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Farmak pharmaceutical company (Kyiv) was the first among Ukrainian pharmaceutical companies to implement the SAP SuccessFactors system to automate the most important and time-consuming processes in the field of personnel management, and is introducing a new module – SAP SuccessFactors Recruiting.

According to a press release from the company, the SAP SuccessFactors Recruiting module will cover and automate the entire recruiting process – from sending applications to find a person to starting a job.

In addition, the module makes it possible to analyze the work of recruiters using HR performance metrics.

“HR specialists will be able to work more efficiently with resume databases, keep records of internal and external candidates, form groups of the most relevant applicants according to the application for recruiting and save the results of interviews,” the company says.

According to Viktoria Kondrashikhina, the HR director of Farmak, this approach will significantly reduce labor costs for finding specialists and accelerate the filling of vacancies.

“Actively digitalizing its business, Farmak pays great attention to the automation of HR processes. For three years now, we have been using the SAP SuccessFactors module, which has transferred to online the setting, cascading and coordination of goals, annual assessment of corporate and managerial competencies, the formation of individual development plans, and personnel reserve. Last year, we began to introduce a module that automates staff training. This will simplify and accelerate the process of acquiring new knowledge and move from paper to digital data management. And also to develop e-learning with elements of gamification, making learning more flexible and effective. Now we are introducing recruiting automation for even greater efficiency and freeing up the time of HR specialists for other strategic tasks,” she said.

Farmak is the leader of the Ukrainian pharmaceutical market. The company’s product portfolio includes more than 220 complex-component modern medicines. Among the main directions are endocrinological, gastroenterological, cardiological, neurological, anti-cold and other drugs.


Pharmaceutical company Interchem developing new anesthetic drug

The pharmaceutical company Interchem (Odesa), the double liability company, is developing a new anesthetic drug, preparing an international dossier for it, Director General of Interchem Anatoliy Reder has said.

“The drug will be an anesthetic. It is original, completely new, it is a new molecule. We have been deeply studying it for three or four years,” he said in an exclusive interview with Interfax-Ukraine.

Reder said that the company will develop a dossier for this drug in accordance with international standards.

“For us in this project, it is important that we first thought about how to form an international dossier of the new drug. For one reason or another, we always had a dossier, either Soviet or Ukrainian. Today we understand that an international dossier is needed, and we want to try making it for this drug,” he said.

Reder said that the company has begun collaborating with an international research organization that will conduct preclinical trials of the new drug.

According to Reder’s forecasts, the development of the new drug could take one and a half or two years.

“We hope that within one and a half or two years the pills will appear in Ukraine,” he said.

Interchem is one of the leading pharmaceutical companies in the country.



The pharmaceutical market of Ukraine over 2020 will grow by 4-6%, the chairman of the board of directors of Darnitsa Pharmaceutical Group, Dmytro Shymkiv, predicts.
“According to analysts, over 2020 we will see growth in the range of 4-6%. The market is expected to grow by about 6-11% in 2021,” he said in an interview with Interfax-Ukraine.
Shymkiv noted that “the Ukrainian pharmaceutical industry has a great potential inherent in the previous period: over the past five years, the industry has grown, on average, by 12% annually.”
At the same time, he predicts that Darnitsa will end 2020 with the indicators of last year.
“In both Ukrainian and international pharmaceutical sectors, this can be considered a serious result for an unexpectedly turbulent year,” he said.



What factors affecting the pharmaceutical companies in 2020? What important signals and triggers for action does the market show? How to maintain balance in turbulence? Which way to choose – confrontation, opposition or adaptation to external factors?
2020 will be unique year for the healthcare sector of Ukraine. From April 1st, 2020, the National Healthcare Service of Ukraine (NHSU) will start paying for medical services at the secondary and tertiary levels of care. At the moment, it is difficult to predict the progress and implementation of the reform in 2020. Much more information will appear in March, closer to the date of the Ukrainian Pharmaceutical Congress.
The Congress agenda is developed by experts in the field of pharmaceuticals and legal regulation of the industry specifically for top managers of pharmaceutical companies. This is an opportunity to learn about innovations and recent changes in pharmaceuticals and receive practical information for making strategic decisions necessary for the successful operation of pharmaceutical companies in Ukraine.
Get a fresh perspective on:
-MEDICAL REFORM: current state and influence on the pharmaceutical industry in 2020-2021
-PROCUREMENT AND REIMBURSEMENT: what road signs point on – innovations and consequences
-COMPETITION ON THE PHARMACEUTICAL MARKET: the great battle or moderate struggle?
-INDUSTRY INSIGHTS and EXCLUSIVE CASES: challenges and predictions
The Congress is attended by leading experts in the field of pharmaceuticals and legal support, professionals in the field of medicine and healthcare, representatives of state bodies, top managers of leading national and international pharmaceutical companies, representatives of healthcare facilities, professional associations, state authorities in the healthcare sector and parliamentarians.
In particular, representatives of the Verkhovna Rada Committee on National Health, Medical Assistance and Medical Insurance, the Ministry of Health of Ukraine, the State Health Service of Ukraine, Electronic Health state-owned enterprise, State Medical Procurement of Ukraine state-owned enterprise, multidisciplinary hospitals and pharmaceutical companies have been invited to discuss the latest changes and prospects for the industry.
Join the important event for key pharmaceutical managers on March 19th and make a successful investment in improving the efficiency of your business!
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