The members of the Union of Ukrainian Entrepreneurs (SUP) visited the manufacturing site for solid dosage forms where they observed the technological processes.
The guests visited the new manufacturing site for solid dosage forms which was launched last year. The project implementation lasted for 2 years and cost the Company EUR 20 million. The launch of a new manufacturing site for solid dosage forms will double annual production capacity. Moreover, due to production increase, nearly 100 new jobs were created.
Today, every tenth pack of medicinal products that is used in our country is manufactured by Farmak.
Technical Director of Farmak Andriy Goy accompanied the guests through the entire technological cycle: from raw material acceptance to tablet compression.
Executive Director of Farmak Volodymyr Kostiuk shared the latest achievements of the Company during the conversation with the SUP members:
The period from the decision to launch a new product and batch shipment incidentally takes 3-4 years.
More than 20 % of the Company’s products are exported.
The Company has managed to increase production capacity by 25% over past five years. Moreover, Farmak is one of few Ukrainian companies developing its own chemical synthesis of active pharmaceutical ingredients (API) in Kyiv and in Shostka.
According to Volodymyr Kostiuk, staff loss is one of the challenges which Ukrainian companies face today.
“Today, we compete not only with Ukrainian manufacturers, but also with companies from Poland, Latvia and Lithuania. A lot of workers, including subject matter specialists, leave our country. We invest in the training of our employees and motivate them financially: over the last 5 years, the salaries we offer have grown 2.5 times”, said Volodymyr Kostiuk.
Over the last 20 years, more than USD 250 million have been invested in modernization and re-equipment. The Company has representative offices in five countries: Uzbekistan, Poland, Kazakhstan, Kyrgyzstan, Belarus.
The main values of the Company today are Quality, Growth, Professionalism, Engagement and Innovativeness.
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...