Business news from Ukraine


6 May , 2021  

Farmak pharmaceutical company (Kyiv) in 2020 increased the share of exports to 29.6% in total sales.
According to the company’s press release, export deliveries increased by 40% by the end of the year.
Farmak exports its products to the EU, Central and South America, the CIS, the Middle East, Asia, and others – a total of 35 countries around the world.
As the company notes, with the onset of the pandemic, the demand for drugs used in the complex therapy of patients with COVID-19 has grown sharply around the world. In particular, the matter concerns corticosteroids, relaxants, analgesics, antibiotics, as well as drugs for anesthesia and sedation, which are necessary when connecting patients to ventilators.
“A number of such drugs by Farmak have been exported to Israel, Great Britain, Sweden, France, Germany, Poland, Australia, New Zealand, Mexico and Singapore, as well as shipped for the WHO use,” the company said.
Farmak production lines, besides national ones, have European GMP (Good Manufacturing Practice) certificates. This allows products to be sold in countries with particularly stringent regulatory requirements.
“Now we are preparing to undergo FDA inspection to enter the U.S. market. Our strategic goal is to increase the share of exports in total sales to 40%,” Volodymyr Kostiuk, the executive director of the company, said.
Farmak is the leader of the Ukrainian pharmaceutical market, it produces medicines in all 14 therapeutic groups. Annually it introduces to the market about 20 new complex component modern drugs. Currently, there are about 100 drugs in development.
Farmak is a member of the Manufacturers of Medications of Ukraine association.