Business news from Ukraine

UKRAINIAN FARMAK RAISES SHARE OF EXPORTS IN SALES TO 30%

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.

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PHARMACEUTICAL COMPANY FARMAK INTENSIFYING DIGITALIZATION DEVELOPMENT

The pharmaceutical company Farmak (Kyiv) is intensifying the development of digitalization in order to scale up its business and build up its presence in world markets.
“Farmak is one of the largest exporters of domestic medicines. To scale up the business and build up its presence in the world, the company digitalizes all production and management processes. A transparent IT system for reporting, budgeting, production planning, sales, workflow, personnel assessment and training has been implemented at Farmak,” the company said in a press release.
According to Chief Information Officer at Farmak Denys Krestov, Farmak focuses on deep industrial digitalization processes.
“We are gradually switching to electronic quality certificates, electronic research protocols, electronic dossiers, e-serialization of products, and so on. Every day the system administration department maintains 30 physical platforms and more than 150 virtual ones that support the operation of business applications,” the company’s press service said, citing Krestov.
Farmak is the leader of the Ukrainian pharmaceutical market, produces medicines in all 14 therapeutic groups.
Over the past five years, Farmak’s investments in the scientific and technical complex, production equipment, and research activities amounted to UAH 3.4 billion.
JSC Farmak is a member of the Association of Manufacturers of Medications of Ukraine (AMMU).

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BIOPHARMA PHARMACEUTICAL COMPANY SENDS UAH 6 MLN TO BUY EQUIPMENT FOR PUBLIC HEALTH CENTER

Biopharma pharmaceutical company has sent UAH 6 million to buy equipment for the reference laboratory of the Public Health Center, which will be used to diagnose the coronavirus disease COVID-19.
As the company told Interfax-Ukraine, the equipment will allow quickly determining the presence or absence of the coronavirus disease pathogens in the samples obtained, using modern methods.
The first unit is Thermo Fisher Scitific Nucleic automatic acid extraction workstation with consumables for 20,000 samples. It helps prepare samples for analysis.
The second unit is Bio-Rad CFX 96 PCR detection system, which already directly determines the DNA of the virus, as well as test systems for it.
The equipment was purchased at the initiative of Biopharma co-owners Kostiantyn Yefymenko and Vasyl Khmelnytsky.
The Public Health Center said that the number of samples sent for verification is growing daily, so new equipment will allow quick testing.
The complex, which will be launched on Saturday, allows processing up to 100 samples in 60 minutes that is, up to 2,000 per day.
Earlier, Biopharma transferred the necessary equipment for UAH 5 million for the Bila Tserkva hospital three. In total, Biopharma sent more than UAH 11 million to support measures to combat the spread of COVID-19.

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GERMANY’S STADA PHARMACEUTICAL COMPANY ACQUIRES UKRAINIAN BIOPHARMA’S BUSINESS OF PRESCRIPTION AND OTC PREPARATIONS

Germany’s STADA pharmaceutical company is acquiring pharmaceutical business of prescription and OTC preparations of Biopharma blood product manufacturer. According to a STADA press release on Monday, Biopharma’s pharmaceutical business will become an integral part of STADA in Ukraine and has strong growth potential in the production of high-quality prescription and OTC drugs. The agreement provides for the acquisition of production facilities in the city of Bila Tserkva (Kyiv region).
Biopharma shareholders will preserve the company’s plasma processing business and focus on its development both in Ukraine and abroad. To acquire it STADA must obtain permission to merge in Ukraine.
The transaction is expected to close in December 2019.
STADA’s Ukrainian business will be led by newly appointed CEO Borys Labensky.
Biopharma President Kostyantyn Efymenko, together with partner Vasyl Khmelnytsky and financial investors, will focus on developing the Biopharma plasma processing business, developing the new Biopharma plasma fractionator and a network of modern blood collection centers and expanding its presence in international markets.

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DARNITSA PHARMACEUTICAL COMPANY PLANS TO DEVELOP IN FOREIGN MARKETS

Darnitsa pharmaceutical company plans to develop in foreign markets, in particular through the acquisition of companies or joint development. This was reported by head of the board of directors of Darnitsa Group Dmytro Shymkiv in Kyiv. He noted that the purchase of foreign companies is one of the “instruments to increase the share of exports.”
According to him, Darnitsa is currently conducting due diligence of several companies, and although Shymkiv did not provide details, he added that the company is studying the issue of acquiring companies not only abroad.
Currently, Darnitsa has about 365 registrations in foreign markets.
“Not all Ukrainian pharmaceutical manufacturers will withstand the requirements for 2D coding of pharmaceutical packaging. In 2020, we will see interesting processes in the Ukrainian market,” he said.
According to him, in 2020 the company plans to invest about EUR4 million in development and research.
As reported, in 2018 Darnitsa invested about EUR3.5 million in development and research, while annually the company invests about 10% of gross income in this direction.
Darnitsa pharmaceutical company is one of the ten largest pharmaceutical manufacturers in Ukraine and the top ten largest hospital suppliers. Its ultimate beneficiary is Hlib Zahoriy.

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MONFARM PHARMACEUTICAL COMPANY SEES NET PROFIT RISE BY 28% IN H1

Monfarm pharmaceutical company (Cherkasy region) in January-June 2019 increased its net profit by 28.64% compared to the same period of 2018, to UAH 8.539 million.
According to the information disclosure system of the National Commission on Securities and the Stock Market, the company’s gross profit in the first half of the year increased by 8.12%, to UAH 30.084 million, and its net income decreased by 0.36%, to UAH 70.495 million.
As reported, Monfarm pharmaceutical company in 2017 reduced its net profit by 9.6% compared with 2017, to UAH 15.321 million.
PJSC Monfarm was established in 1994 through the corporatization and privatization of state enterprise Monastyrysche Pharmaceutical Plant, organized in 1986 on the basis of a distillery, as part of the Kyiv pharmaceutical association Darnitsa. At present, the range of medicines that Monfarm produces includes more than 70 types of drugs from various pharmacotherapeutic groups.
According to the state register, the ultimate beneficiary of the company is Yakiv Kuznetsov.

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