Following the best practices, Farmak started reporting on the fulfillment of Corporate Social Responsibility (CSR) Action Plan. The first results can be found at http://farmak.ua/report
Farmak drafted the CSR Strategy in 2012 with consulting support from E&Y and started its implementing in 2013. The first report was delivered on free basis having the main objective to show the relation between the Company’s strategic CSR goals and actual steps towards their achievement.
The key Farmak’s CSR efforts in 2013 were focused on implementation of CSR practices in such areas as human resource management, environmental impact reduction, higher efficiency of social expenses, promotion of the principles of business ethics and more transparency in business.
Dina Nemyrovych, Chief Strategic Officer, Farmak JSC, says, “Sustainable development is a part of Farmak's business philosophy and social orientation is incorporated into our mission. The first CSR Report is for us not only a way to communicate with the stakeholders, but also a motive to set up the information acquisition system across the Company. Our future plans include regular delivery of more extensive CSR reports and focusing our efforts on making them more informative”.
The pharmaceutical company JSC “Farmak” considers the possibility of launching the manufacture of products, in particular, diagnostic test kits, to combat coronavirus spread. “Now we analyse the possibility of arranging the release of supportive care products, disinfectants and antiseptics, diagnostic test kits, protective medical products, including masks, ...
Farmak reinvests 95% of its profits in the development. “We have never paid more than 5% of our profits as dividends. We have reinvested everything in the development. Due to this, Farmak’s capitalization can be estimated at $850 million to $1 billion today. If I sell the shares that I hold, I will earn a […]
The Memorandum is aimed at developing the mutual cooperation in the implementation of the state programs of the Republic of Uzbekistan for the further development of the national pharmaceutical industry. “We know the Uzbek market well and we are committed to develop cooperation. Farmak has been present in Uzbekistan since 2004. The residents of this [&hellip...