Generics account for over 80% of the drug market in the world. The market launch of analogues is a long process, which takes five to six years. Farmak deals with difficult-to-reproduce medicinal products that foreign companies may not always manufacture. For example, we are working on new rapid release tablet dosage forms. The promoted initiatives make the development vector for 10-15 years clear. Today our potential goes far beyond the borders of Ukraine. We export our products to more than 20 countries.
Big Pharma involves big money. We have one brand-name drug named “Amizon” in our portfolio. We spent $20 million on its research in the US and the EU until 2014. Using this money, we succeeded in approaching the first (of four) stages of clinical trials. But then the war broke out and we did not take the risk of spending more on such research. There are limited financial borrowing instruments in Ukraine, failing which it is impossible to launch brand-name drugs in the global market. Therefore, the emergence of innovative domestic drugs in the world will be the reality for not our children, but for our grandchildren at the earliest.
It’s a different matter that the Ukrainian pharmaceutical industry will develop and increase its export potential, perhaps, some of our manufacturers will buy a European company with a portfolio containing brand-name drugs.