There is also another type of cooperation such as out-licensing, i.e. sale of intellectual property rights, mainly to dossier, to another pharmaceutical company for the purpose of registration of a medicinal product and its introduction to market. The partners choose medicinal products from our range that they want to supply to the market, we sell a license to them and manufacture the medicinal products in the package they wish. This type of cooperation requires close and effective work with partners, because they better know the local market, have the necessary distribution channels, and we have more information about our own products, provide promotional materials and, very often, share our experience regarding the possibility of bringing our products to the market and formation of product portfolios. Although such cooperation between the manufacturer and the consumer results in appearance of an additional player who gets its share of the profits from the sale of our products, we win due to the fact that we do not need to spend money on registration and marketing to promote in the new market.
Contract manufacturing is also mutually beneficial. The companies offer the following to us: We have a technology and product. Can you manufacture it? That is how, for example, we manufacture “Pinosol” for Sanofi, one of the largest European pharmaceutical companies. We are actively working to that end, now several projects on co-development, i.e., cooperative development of medicinal products, are being implemented.
Regarding the introduction of the products to the domestic market, in addition to our own development of medicinal products, in some cases, we apply the licensing procedure for products of foreign pharmaceutical companies. Although Farmak acquires restricted rights
to introduce the product in any territories and does not control the cost of products, licensing of products, especially those registered in countries with strict regulation, it allows us to quickly enter the markets of interest to us, to capture a free niche and occupy it until the introduction of a similar product developed by us.
CDMO services are a new area of our activities. It means the situation when a company, most often a local distributor, submits us an offer not only to manufacture, but also to develop a medicinal product according to the product available in the market. Most often, such requests relate to unique, niche products, or products, the development of which requires a higher qualification of the specialists and appropriate equipment. Having the necessary knowledge, experience and equipment, Farmak has started cooperation in this regard and can offer CDMO services to foreign partners.
