PJSC Farmak by the end of 2019 plans to bring its products to the U.S. market, CEO Volodymyr Kostiuk said at a press conference on Friday.
“The share of our exports in 2018 amounted to 25% of total sales. We exported products to different countries, in particular, to countries in Europe, Africa, Asia and Australia. This year we plan to enter the U.S. market,” he said.
Kostiuk also said that Farmak plans to cooperate with the European Bank for Reconstruction and Development (EBRD) and increase investment in the development of innovative technologies of the company.
“Last year we invested about UAH 700 million in laboratories, in the development of new medicines, in IT. This year we are doing everything to increase investment. In particular, we have planned to invest about $35 million in the development of the IT laboratory. We start a lot of new projects. We also plan to actively cooperate with the EBRD,” Kostiuk said.
According to him, the company plans to expand its product line.
“The company is actively developing its product line. Every year we produce up to 20 new products. This year we plan to release 23 new products,” Kostiuk said.
PJSC Farmak is among Ukraine’s top three pharmaceutical producers and is a member of the Association Manufacturers of Medications of Ukraine (AMMU).
PJSC Farmak’s beneficiary is Chairperson of PJSC Farmak’s supervisory board Filia Zhebrovska. She owns 80% of the company’s shares.
In 2017, Farmak increased sales in the country’s retail pharmaceutical market by 21% in monetary terms. Its net profit grew by 29.9%, to UAH 839.09 million.