Farmak JSC has become a leader of the pharmaceutical market in terms of sales in the retail market at year-end 2018
Farmak is at the top of the rating of marketing organizations by sales of pharmacy basket products in monetary terms following the results of 2018. The growth of the Company’s retail sales in 2018 is 20.7%. Such information was published by Apteka (Pharmacy) weekly with reference to data from the market research analytical system PharmXplorer/Pharmstandard by Proxima Research.
It is worth noting that Farmak JSC has led the list of the Ukrainian pharmaceutical market leaders since 2010 (according to the structure of marketing organizations in each period*) due to high quality of its products and innovative approach in production.
“The strategic goal of Farmak is to increase exports, to enter new markets, keeping its leadership position in Ukraine. We plan to achieve such results due to increase in production capacities and release of modern, effective European-quality products to the market. Today, our products are exported to more than 20 countries of the world. This figure grows every year. People need modern, effective drugs – high-quality generics with proven efficacy that Farmak releases for both Ukraine and Europe. These drugs are manufactured on production lines certified under the European GMP. And we continuously invest in production. In 2019, we plan to spend UAH 1.045 billion for completion of works related to new tablet production, for the project “LMP-3” (Liquid Medicinal Products), new office and laboratory complex, IT, quality and laboratory equipment, and we are going to continue to cooperate with the EBRD under the investment projects. We release new, complex drugs. Our technologies and equipment make it possible to implement any, even the most ambitious objectives which are too tough for some European companies. The drugs of known European brands have been produced on our manufacturing sites under contracts. But we continue to release the legendary medicinal products of Farmak, popular in many countries of the world, which have been already intimately associated with the Company. These are Corvalol, Naphthyzin, Diazoline. We believe in Ukraine and keep stating that, despite the European vector of our development, we will not move production to Europe. We will build Europe here, in Ukraine. And we are confident that the Ukrainian legislation, including in intellectual property, will be also for the benefits of the Ukrainian business and Ukrainians, making high-quality modern medicines available, and competition in the pharmaceutical market – fair“, said Volodymyr Kostiuk, Executive Director of Farmak JSC.
In 2018, Farmak brought 34 new nomenclature items, i.e. 17 brands, to the market seven of which are over-the-counter.
Last year, Farmak began to develop new therapeutic areas, such as asthma, psychiatry and oncology. In 2018, the Company brought the first drug for asthma treatment (Freeway Combi) to the market, as well as created the portfolio of psychiatric products (Adagio, Dyulok, and Freym). A new oncological product called Namibor appeared.
The portfolio in the areas of Farmak’s specialization (contrast agents and ophthalmology) – Dotavist, Cytomoxan, has also increased. Cytomoxan is the first moxifloxacin generic drug in the form of eye drops in the Ukrainian market.
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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...