On April 26, 2021 a list of TOP 25 Leaders of Digitalization was published by the Vlast Deneg (The Power of Money) magazine. The ranking includes leading companies of various industries that successfully implement digital technologies in their activities.
JSC Farmak is a leader of the Ukrainian pharmaceutical market* and one of the largest exporters of domestic medicinal products. The Company digitalizes all manufacturing and management processes in order to scale the business and expand its presence in the world. Farmak has implemented a transparent IT system of reporting, budgeting, manufacture planning, sales, document management, evaluation and personnel training. Today the level of process automation at the Company is very high.
“Digital transformation is not a kind of modern trend, but our reality. The faster we switch to digital technologies, the faster and better we work and our business develops. It is crucially important to apply the comprehensive, systematic approach, rather than point-to-point solutions. Since we are focused on deep processes of digitalization on an industrial scale, among other things, we are gradually moving to electronic certificates of quality, electronic study records, electronic dossiers, e-serialization of products etc. 30 physical and more than 150 virtual platforms that support business applications operate every day due to the System Administration Department,” says Denys Krestov, Information Technology Director of Farmak.
“The competitiveness of companies and the national economy as a whole depends on how successfully digital tools are implemented. It becomes a matter of survival in the market in the context of the pandemic-related potential of business to transform at all levels,” said Olha Santarovich, the Vlast Deneg magazine editor-in-chief.
The winners have been determined based on the scope of activity related to digitalization, its importance for strengthening the technological potential of Ukraine, the amount of relevant investments, already made and planned, the potential of companies to switch to online business within limited time.
Farmak is a leader of the pharmaceutical market with almost 6% share. The medicinal products manufactured by the Company are presented in fourteen therapeutic groups. The portfolios mainly consist of anti-cold, endocrinological, gastroenterological, cardiological and neurological medicinal products. Farmak launches about 20 new medicines annually; they are multicomponent, modern products needed by millions of people living both in our country and abroad. Currently, about 100 medicinal products are in pipeline.
* based on volume of sales of medicinal products in monetary terms, according to Proxima Research
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