Farmak: 92 Years of Development
In historical terms, this is a period, for the Universe – just a moment. For Farmak JSC, this is a period of the Сompany’s development and transformation into up-to-date innovative business. Thanks to people, quality and innovative approaches, Farmak JSC is an example of domestic business, an industry driver, and the market leader* for the 7th year in a row.
What the 92nd year of development was for Farmak JSC?
21 medicinal products, including Ilar, insulin biosimilar Glargine, Zipelor, Citric and Diprofol EDTA, were launched in 2017. About 125 projects are currently in the pipeline.
In 2017, Farmak’s tax deductions amounted to UAH 460 million.
The Company has invested over USD 500 million in modernization and technical equipment of its production facilities. In total, over the past 12 years, Farmak's investments in modernization exceeded USD 216 million. Currently, 10 large-scale capital investment projects are at different stages of implementation.
Farmak JSC manufactures high-quality products in line with ISO and GMP standards. Each year, about 15 international inspections visit the Company, enabling the products marketing to over 20 countries.
In 2017, several Ukraine’s leading media (Focus, Business magazines) nominated Farmak JSC as one of the best employers among Ukrainian companies.
Currently, the Company has 2,614 employees. The average employee’s age is 38 years; 25% of the staff has been employed with the Company for over 10 years. Farmak JSC creates favorable conditions for its employees’ development and career growth. 80% of management vacancies are filled by the Company's own reserves.
For over 5 years, the employees’ salaries have been increased by 2.3 times. Furthermore, the Company implements employee-focused social programs. According to Business magazine, Farmak’s Foster Grandchildren charity project is one of the best CSR programs implemented in Ukraine.
The Company employs innovative approaches to development and preparation of medicinal products by constantly improving and introducing edge-cutting technologies. In 2017, according to Epravda (Ekonomichna Pravda) portal, Farmak JSC is in TOP 5 of the most innovative companies.
Farmak JSC is not resting on its laurels. New achievements are ahead. In 2018, the Company will pursue its active development and implementation of innovative approaches to production and management.
The development of export potential and expansion in Europe and other countries is among the priorities for year 2018.
In 2017, Farmak has retained its leading position on the Ukrainian market. “The priority now is to increase our presence in other countries, so we have already taken the first steps towards this. For us, the European way is not transferring the production to Europe, but building Europe here - in the heart of Ukraine. We are working on it. Everything we do, we do caring for our nation’s health and for benefit of our industry and country. Our country needs us today. Ukraine needs skilled specialists, strong industries, and responsible business”, said Filya Zhebrovska, Chairman of the Supervisory Board, Farmak JSC.
* based on sales volume in monetary terms according to Proxima Research in 2016.