Business news from Ukraine


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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General Information Partner:
Location: Ramada Encore Kiev, Stolychne Hwy 103
Congress working languages: Ukrainian, Russian. Simultaneous interpretation into English
Organizational partner: Pravotoday LLC Info Agency
Event-partner: GB17 – Garden of Brands
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Zhovtnevy district court in Mariupol has declared inaccurate information regarding Interchem pharmaceutical company (Odesa) posted by one of Odesa websites.
According to the press service of the pharmaceutical company, the court issued such a decision, having considered the suit of Interchem regarding the article “Does the Odesa enterprise kill Ukrainian youth?”
Interchem noted that this text was made public on one of the online portals in Odesa,, and then was actively disseminated on the Internet in order to put pressure on the enterprise.
“Interchem pharmaceutical company was called the manufacturer of cheap drugs in the report. It was pointed out that its director general Anatoliy Reder was repeatedly involved in criminal proceedings, there was also other information discrediting honor and dignity. After the authors [of the article] had failed to confirm the information, the court obliged the owner of the resource to refute the report,” the company said.
The court satisfied the claims on recognizing the disseminated information as false, violating the honor, dignity and business reputation of Reder and Interchem.
Interchem is one of the leading pharmaceutical companies in Ukraine. It was founded in 1992. It is the only Ukrainian manufacturer of medicines for hard and cancer patients, as well as one of the drug suppliers under the Global Fund to Fight AIDS, Tuberculosis and Malaria programs.