USD 500,000 to be provided by the Company will be used for the development of KSE (Kyiv School of Economics) to improve education in Ukraine.
The pharmaceutical company Farmak will provide KSE with monetary funds to equip the training rooms and areas of the new campus, as well as to develop existing and launch new majors, in particular, in the bachelor’s degree program.
“The development of education and society as a whole is impossible without investments by businesses. Our well-being and future depend on the level of the country’s intellectual capacity. By supporting such projects, we make our contribution to the achievement of the Global Sustainable Development Goals, which in particular are aimed at improving the quality of higher education and ensuring its close connection with science,” said Volodymyr Kostiuk, Chief Executive Officer of JSC Farmak.
Farmak supports not only KSE, but also other higher educational institutions and educational initiatives: Junior Academy of Sciences, publication of the book about Ukrainian scientists “Bude tobi nauka: ukrainski vcheni, yaki zminiuiut svit” (That’s science for you: Ukrainian scientists changing the world), Eco-School.
The Company’s own scientific potential that comprises 150 scientists, 42 candidates of sciences, 5 doctors of sciences, innovative R&D complex makes it possible to ensure a high level of academic expertise.
“The decision made by Farmak shows that Ukrainian business breaks new ground in terms of corporate social responsibility, and others should follow its example. Support of education and science is an investment that can change society for the better and brings one of the most tangible results in the long run. Due to the support of companies such as Farmak, we form the foundation for a strong and innovative economy of Ukraine. We are proud of the trust and the fact that this first contribution made by the Company will give a strong push to further development,” said Tymofiy Mylovanov, KSE President.
Background information
Farmak is a leader of the Ukrainian pharmaceutical market*. The Company’s product portfolio includes 220 complex modern medicinal products. The products are exported to 28 countries, including the EU, South America, CIS, Middle East, Asia etc. Farmak’s investments in its scientific and technological complex, manufacturing equipment and R&D amount to UAH 3.4 billion over the past 5 years.
Kyiv School of Economics is a private university without a sole owner. The School is governed by the independent Board of Directors who are not paid compensation for their work, and the International Academic Board (which includes, in particular, Nobel Laureate Roger Myerson). KSE is non-profit organization that is not funded by the Government and operates due to the support of sponsors and organizations.
* based on volume of sales of medicinal products in monetary terms, according to Proxima Research
