Business news from Ukraine

FARMAK SEEKS TO ENTER SOUTHEAST ASIAN CONTRAST MEDIUM MARKET

13 October , 2016  

KYIV. Oct 13 (Interfax-Ukraine) – Farmak seeks to supply contrast mediums for magnetic resonance and computer imaging to the Southeast Asian market.

“Why these products? The industry is moving to high-quality diagnostics, which can be applied for effective treatment,” Farmak Business Development Director Oleh Siarkevych has told Interfax-Ukraine.

He said that the company presented its contrast mediums on the Malaysian market as part of a Ukrainian delegation during the official visit of Ukrainian President Petro Poroshenko early August.

“We presented our most promising and modern products for magnetic resonance and computer imaging in Southeast Asia. We have registered them in all EU countries. The number of radiological clinics is growing in Southeast Asian quickly, as all over the world, and these products would be of great demand,” he said.

Siarkevych said that demand on contrast mediums in Ukraine is growing more slowly compared to other countries.

“For example, we have 80-85% fewer magnetic resonance and computer imaging equipment than all other European countries, even our closest neighbor – Poland,” he said.

As reported, as part of the official visit of Poroshenko to Malaysia the Ukrainian-Malaysian Business Forum was held early August. Ukrainian pharmaceutical manufacturers took part.

By 2020, the company plans to boost sales to $1 billion and reduce the share of its sales in Ukraine from 80% to 60% of total sales. The company plans to ensure 10% of its sales on well regulated eastern European and CIS markets.