Farmak remains the largest pharmaceutical company in Ukraine. In 2022, the company paid more than UAH 870 million to the state budget in the form of taxes and fees, moreover, it did it ahead of schedule in order to support the country’s economy.
Despite the fact that the russians destroyed the company’s warehouses with all finished products and primary packaging in the vicinity of Kyiv, Farmak decided not to stop investing in its Ukrainian enterprises. In 2022, Farmak invested more than UAH 725 million in the development of its own production facilities in Kyiv and Shostka, Sumy region.
The main investment project last year at the enterprise was the launch of a new site for the production of drugs in nebulas. Such drugs are especially important for people who suffer from asthma and allergy. In military conditions, 16 new products of the company were introduced to the market. As of today, the portfolio of the market leader includes more than 460 types of medicines.
Also in 2022, the company invested in new state-of-the-art bomb shelters and a wastewater treatment system at the facility. This was also the reason why Farmak was recognized as the best employer in Ukraine by the Union of Ukrainian Entrepreneurs and entered a number of ratings of companies with the best CSR programs during the war.
Despite the losses due to the destruction of the warehouses by the enemy amounting to UAH 1.5 billion, which is more than the company’s net profit in 2020, Farmak allocated powerful financial support to the needs of the Army and the people. The amount of charitable assistance provided by the company in 2022 is UAH 60 million. In addition, the company managed to raise an additional UAH 75 million in charitable assistance from their foreign partners.
“Certainly, 2022 has not been an easy year. I am not sure that a significant number of other countries in the world would have survived such a test of war and could keep the economy and the businesses functioning. The realization that in this war everyone has their own front united Ukrainians very much. Our pharmaceutical front is to produce high-quality medicines for the people and the Armed Forces of Ukraine, provide jobs and pay taxes. In this way, we are working to bring victory closer,” says Volodymyr Kostiuk, Executive Director of Farmak.
