Business news from Ukraine

WE HAVE PREPARED LEGISLATIVE FRAMEWORK TO ENSURE FULL CYCLE OF PRODUCTION OF CANNABIS PREPARATIONS IN UKRAINE – MINISTER

The Cabinet of Ministers of Ukraine has supported a bill on the use of medical cannabis preparations for the treatment of certain diseases, Minister of Health of Ukraine Viktor Lyashko said on his Facebook page.
“We have prepared a legislative framework to ensure the full production cycle of cannabis-based drugs in Ukraine: from cultivation and processing to full-fledged production,” Lyashko said.
He also noted that cannabis medicines should not be identified with narcotic substances, since they do not have a psychoactive effect, and the measures for regulating their circulation are different.
“Medical” cannabis contains cannabidiol, which does not have a pronounced psychoactive effect, so it is not interesting for recreational use. At the same time, we still propose to establish strict control over the cultivation, production and sale of drugs, understanding the sensitivity of this issue in society,” Lyashko explained.
Cannabis-based preparations are used to reduce pain, muscle spasms and cramps, treat anorexia, PTSD and anxiety disorders. In addition, they are used in the treatment of certain types of epilepsy, glaucoma, psoriasis, parkinsonism, and multiple sclerosis. An important task of this medicine is to alleviate pain and suffering for seriously ill and palliative patients, including cancer patients, patients with HIV.

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CABINET OF MINISTERS PERMITS BIOPHARMA TO EXPORT DONOR BLOOD PREPARATIONS FOR INDEFINITE PERIOD OF TIME

The Cabinet of Ministers of Ukraine has permitted the manufacturer of blood-derived products Biopharma Plasma LLC (Kyiv region) to sell donor blood preparations outside of the country for the indefinite period of time. The government approved the resolution at a meeting on Tuesday. The implementation of the resolution will contribute to an increase in the volume of production of medicines and the expansion of the export potential of Ukraine.
As reported, at the end of 2017, the Cabinet of Ministers issued Biopharma Plasma a license to export 32 names of medicines and medical products outside Ukraine in 2018.
Biopharma is among the ten largest Ukrainian drug manufactures. Biopharma produces more than 20 immunobiological preparations of blood, as well as drugs obtained by recombinant DNA technology and probiotics.
According to the National Commission for Securities and the Stock Market, shares in Biopharma Plasma belong to Niobera Investments Limited (Cyprus). The holder of a majority stake and the beneficiary (the holder) of the majority stake of the shareholder Niobera Investments Limited is Kostiantyn Yefymenko. Another beneficiary of Niobera Investments Limited is Vasyl Khmelnytsky.

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