Business news from Ukraine

Business news from Ukraine

BIOPHARMA COLLECTS HALF OF PLASMA REQUIRED FOR PRODUCTION OF CURE FOR CORONAVIRUS

Biopharma pharmaceutical company (Kyiv) has accumulated about 150 liters of plasma from 118 donors who have had coronavirus (COVID-19) for the production of the drug for COVID-19, and the same amount is needed to create an experimental series.
The company informed Interfax-Ukraine that it is necessary to collect 300 liters to create the first experimental series of drugs.
“Not everyone who is diagnosed has developed antibodies, but they are the main weapon against the disease. However, there are cases of asymptomatic course of the disease. That is why everyone who donate plasma in our centers is tested for antibodies to COVID-19,” said the president of the company, Kostiantyn Yefymenko.
He called on Ukrainians, representatives of government, business and public activists to help attract donors who have overcome the coronavirus.
He said that if antibodies are detected, the collected plasma is used to create a drug for coronavirus, if there are no antibodies, then other drugs are made from donated blood.
Biopharma also reports that clinical trials of use of Bioven in the symptomatic treatment of coronavirus are completed. This drug is also produced from donated plasma. In particular, according to the company, during the Bioven research, Ukrainian and international experts noted that it reduces the severity of the cytokine storm and helps stabilize the condition of seriously ill patients.
“The preliminary results of the studies are extremely encouraging: everyone who took Bioven, observe the stabilization of the general condition up to two days after taking the drug, followed by a decrease in manifestations of respiratory failure,” the company reported.
As reported, clinical effectiveness trials of domestic drugs AMIZON MAX (produced by Farmak), Amiksin IC (Interchem), Bioven (Biopharma) and Corvitin (BHFZ) are underway in Ukraine.

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ENWELL ENERGY RAISES PRODUCTION BY 12.5% IN Q2

Enwell Energy plc (formerly Regal Petroleum) with assets in Ukraine in the second quarter of 2020 increased its average daily production of hydrocarbons at the Mekhediviska-Golotvshinska (MEX-GOL), Svyrydivske (SV) and Vasyschevskoye (VAS) gas and condensate fields by 12.5%, or 510 barrels of oil equivalent (boepd) compared to the second quarter of 2019, to 4,580 boepd.
According to Enwell’s report on the London Stock Exchange, in particular, the average daily production of hydrocarbons in April-June of this year on MEX-GOL and SV amounted to 3,980 boepd (27.8% more from Q2, 2019), VAS some 600 boepd (37.1% less from Q2, 2019).
“Overall production volumes in Q2, 2020 increased by approximately 12.5% compared with Q2, 2019, having received a significant boost in May 2020, when the SV-54 well in the SV field commenced production testing. However, a decline in production rates from the VAS-10 well in the later part of 2019 impacted overall production at the VAS field in 2020. As a consequence, during Q1, 2020, compression equipment was installed to stabilize production from the VAS-10 well, with a longer term plan to undertake a workover of the well to access an alternative reservoir horizon,” the report says.
The total natural gas production on the three fields in April-June 2020 reached 586,160 cubic meters per day (up by 12.5%), condensate some 683 barrels per day (10.9% more), liquefied natural gas (LPG) some 304 barrels per day (19.4% more).
“Preparations continue for the spudding of the SV-25 well in Q3, 2020, and planning is also underway for a further well or sidetracking of an existing well in the SV field. At the VAS field, planning is continuing for a new well to explore the Vvdenska (VED) prospect within the VAS license area,” according to the document.

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MINIMUM LOCAL CONTENT IN PRODUCTION OF ELECTRIC LOCOMOTIVES IN UKRAINE TO BE 35%

A tender to supply electric locomotives for the implementation of a project to upgrade the fleet of electric locomotives of JSC Ukrzaliznytsia will envisage 35% of local content on the basis of Ukrainian enterprises, the press service of Ukrzaliznytsia reported on Wednesday, referring to Board member František Bureš.
According to him, this minimum level of local content was determined by the Ministry for Economic Development, Trade and Agriculture, together with the Ministry of Infrastructure and relevant associations of Ukrainian industrial companies.
Bureš said that currently the process of selecting suppliers of electric locomotives is in line with the approved road map and is at the qualification stage.
“The main goal of this stage is to create a list of direct manufacturers who have experience in the production of electric locomotives. We have received offers from all over the world. Ukrzaliznytsia is now studying all the proposals of the participants, and then will formulate recommendations – a short list of suppliers. This is not an easy job, because qualification documents have hundreds of pages,” the press service said, citing the board member.

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MILK PRODUCTION IN UKRAINE IN JAN-MAY DECREASES BY 3.6%

Milk production in Ukraine in January-May 2020 decreased by 3.6% compared to the same period in 2019, to 3.64 million tonnes.
According to the State Statistics Service, over the five months of this year, 1.41 million tonnes of meat (in live weight) were produced, which is 1% more than in January-May of the previous year.
Egg production over the five months of this year fell by 0.4%, to 6.99 billion eggs.
According to the State Statistics Service, milk production in Ukraine in 2019 decreased by 3.6% compared to 2018, to 9.7 million tonnes. Egg production in 2019 increased by 3.4%, to 16.68 billion eggs, meat (in live weight) by 5.3%, to 3.49 million tonnes.

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DARNITSA SUSPENDS PRODUCTION OF HYDROXYCHLOROQUINE TO TREAT CORONAVIRUS

Darnitsa pharmaceutical company has suspended a project for the production of hydroxychloroquine for the treatment of COVID-19.
Аccording to the press service of the company, the company came to such a decision by tracking reputable medical studies regarding the effectiveness of hydroxychloroquine in the treatment of COVID-19. In particular, as of May 26, some 201 studies of the use of hydroxychloroquine for the treatment of COVID-19 were recorded, of which five were completed.
The company notes that the published clinical trial materials have not confirmed the benefits of using the experimental drug ‘hydroxychloroquine’ for patients with COVID-19.
“The safety of patients and scientific feasibility is an absolute priority for the company. Therefore, taking into account the world scientific thought, the company suspended the project for the production of hydroxychloroquine for the treatment of COVID-19,” Darnitsa said.
The company reminds that Darnitsa had launched the project to prepare for the production of hydroxychloroquine in March 2020, when Chinese treatment protocols and publications in authoritative sources about the effectiveness of this drug for the treatment of COVID-19 appeared. These data gave reason to include hydroxychloroquine in the protocols of experimental treatment of COVID-19 in many countries of the world, in particular in Ukraine, the United States and in European countries.
“At the same time, Darnitsa received numerous requests from Ukrainian doctors and patients asking for the opportunity to use the drug for treating coronavirus infection, since this therapy was considered by the medical community as potentially effective. Considering the scientific data and the medical community’s requests, Darnitsa started a project for the production of hydroxychloroquine preparations exclusively for the needs of medical institutions in the treatment of COVID-19,” the company’s press service said.
Darnitsa pharmaceutical company was founded in 1930. It is one of the ten largest pharmaceutical manufacturers in Ukraine and the top ten largest hospital suppliers. The strategic directions of the portfolio development are cardiology, neurology and solutions to pain problems.

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SMART MARITIME GROUP PLANNED REVENUE GROWTH BY 20% IN 2020, BUT PRODUCTION MAY DECLINE

Smart Maritime Group (SMG) of Smart-Holding, combining Kherson and Mykolaiv shipyards, earlier planned in 2020 to increase revenue from sales of products by about 20% compared to 2019, to UAH 600 million from more than UAH 500 million, however, due to the deterioration of the situation production volumes may decrease.
According to Dmytro Krasnikov, the CEO of Smart Maritime Group, the key task was to develop an updated business development strategy in two main areas: maintaining and developing the company’s main profile – shipbuilding and ship repairs, as well as diversification of activities involving all the existing potential of our shipyards.
According to him, the company has expertise in the manufacture of large metal structures, its specialized unit previously participated in a number of projects for the development of road infrastructure in Ukraine, was involved in the manufacture of equipment for mining and processing plants. This is one of the promising areas. The development of the strategy is at the final stage, in the near future it will be submitted for approval to the management company Smart-Holding.
The company strengthens the team, expects the arrival of several top managers in sales and human resources.
Concerning the influence of coronavirus on the company’s work, its head pointed to a decrease in economic activity, there is a lack of liquidity in the market, many clients do not have funds to finance repairs and work. The volume of orders is declining, many contractors, especially from Europe, took a break. General uncertainty leads to the fact that investment projects are frozen.
Given this, SMG adopted a cost-cutting program if the situation drags on for a long time, although it is forecasted that by the third quarter the economic activity of all entities, including the company’s customers, will begin to recover.

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