A leader of the Ukrainian pharmaceutical market* and one of biggest exporters of medicines, Farmak opens a representative office in the United Arab Emirates.
The products of the Ukrainian company have been marketed in the Middle East since 2016. While selling products via local distributors, Farmak explored a potential of the market and reviewed pharmaceutical product niches in the region. This year, the Company’s Senior Management has made a decision to launch a representative office in the United Arab Emirates for consolidated business management in the Middle East.
Currently, the Company’s manufacturing facilities successfully passed certification in UAE competent authorities. Farmak’s injectable products were also authorized in the country. These medicines are procured in governmental and local hospital tenders in the region.
“The Middle East market is not anything new for us; we are proactive to scale up our presence in the region. We chose the United Arab Emirates as a centre for the Middle East business activity. The UAE have the reputation of a country with a high-standard public health system and stringent regulation of medicine manufacturing and distribution. The fact that Farmak’s products are present in the market is another proof of the high quality of our medicines” – Viktor Kostiuk, Business Development Director of Farmak JSC, comments.
The new representative office will be run by Mourad Ishak Habib, who was a general manager of the representative office of Tabuk Pharmaceuticals and run the Middle East business division of Sandoz for over 8 years. According to Mr. Mourad Habib, the new office in the United Arab Emirates is just the first step in Farmak’s strategy; the Company has future plans to expand its presence in the region and arrange local processing operations in Saudi Arabia and Egypt.
The UAE Office is the sixth international representative office of the Company. In 2020, Farmak increased exports by 40%. Today, the manufacturer’s products are present in over 30 EU, Central America, South America, CIS, Middle East and Asian countries.
* Based on sales of medicines in monetary terms, according to Proxima Research.
