Nov 15, 2019

Farmak CEO Volodymyr Kostiuk is recognized as one of 15 best top managers of Ukraine

The rating “Top 100 Best Top Managers of Ukraine” was created by ekonomika+ (media bureau) and (news platform) assisted by HR experts.


The award ceremony and the announcement of the results took place at Business Wisdom Summit 2019, the significant event in the business world.


During Business Wisdom Summit 2019, Volodymyr Kostiuk, CEO of JSC “Farmak”, told the business community about the situation in the world and Ukrainian pharmaceutical industry and what discoveries would be made in the coming years.  “Pharmaceutical industry is the most dynamic industry not only in Ukraine but all over the world. This is a real race of pharmaceutical companies, countries and people, where human life and health are a goal. The future of each of us depends on the level of pharmaceutical industry global development. Therefore, the strategic role of pharmaceutical industry in the state can hardly be overestimated. The development of domestic manufacturers requires: state support, overcoming stereotypes that domestic goods are poor-quality, and developed insurance medicine. The race for survival has already begun, and you have to bet on yours. To invest in the development of science and industry of Ukraine is primarily for your and our benefit, and for our children’s benefit”, said Volodymyr Kostiuk.


The pharmaceutical industry and biotechnology remain the most high-tech industries in the world in terms of absolute and relative costs. They account for 70% of all investments in medicine – more than USD 1 trillion. In the period 2017-2025, the global pharmaceutical market (including biotechnology) will grow, on an average, by 4.6%, and its volume will amount to USD 1.7 trillion by 2025, according to the Global Pharmaceutical Market Trends prepared by the international consulting company Frost & Sullivan.

“The pharmaceutical industry involves high-tech manufacturing processes, but at the same time, it remains a socially significant area and is highly dependent on regulatory decisions and effectiveness of research process management.

The milestone achievements in modern medicine are made possible due to the innovations in the pharmaceutical industry. The discoveries in medicine provide people with a better quality of life and greater productivity. This has a beneficial effect on the society as a whole. The pharmaceutical innovations also ensure creation of jobs, facilitate technology development and are an important income source.

The pharmaceutical industry makes its contribution to help those most in need of advancement in medicine, applying different pricing mechanisms, through charitable programs and technology transfer initiatives.

Back to the News