Farmak, a leader of the domestic pharmaceutical market, has acquired a company focusing on the marketing and sales of dietary supplements in Polish market.
The agreement of purchasing KWW Kotkowski Wierzbicki Wegrzyn sp. z o.o. was signed on 03 February 2016.
This partnership will enable Farmak to implement its export strategy of launching the products on the EU markets.
Filya Zhebrovska, CEO, Farmak JSC, says, “Having signed the Association Agreement with the European Union in 2015, Ukraine officially set a course to the EU. A few years ago, we determined the launching of our products in European markets as a key focus area of Farmak's export strategy. Purchasing of a marketing company in Poland will enable our advancing towards implementation of the export policy.
Moreover, it is a major challenge for us, because the EU has much more stringent regulatory requirements than Ukraine and CIS countries. Thus, we continue implementing our strategy "Medicines without Borders", changing the opinion of the national producer here in Ukraine and in the European Union. On the other hand, it will enable both Farmak, and the overall pharmaceutical industry of Ukraine to develop according to the contemporary requirements. It will increase Ukraine's trade balance as well as FX earnings through exports to Europe. Besides, it will certainly increase the budget receipts from taxes paid by Farmak due to expansion of production and export capacities.
I would like to note that Farmak has received invaluable support of the Ministry of Economic Development and Trade of Ukraine and the National Bank of Ukraine in the acquisition of the Polish business”.
The key legal advisers who accompanied the deal were Ukrainian law firms Avellum and Integrites, the Polish office of Baker & McKenzie and Polish consulting firm DZP.
This was discussed during the Fourth Meeting of the High-Level Dialogue Ukraine-EU on Horizontal Issues and Specific Industrial Sectors The event was held on March 16 in Kyiv with the participation of representatives of 6 ministries and services of the Cabinet of Ministers of Ukraine, high-ranking officials from the European Commission, as well as representa...
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