37 pharmaceutical companies from Ukraine, Moldova, the Republic of Lithuania, the Czech Republic, Israel, Armenia, the Kyrgyz Republic visited the production plants of Farmak JSC within the framework of the ISPE Conference “Countries of Eastern Europe” (ISPE – The International Society for Pharmaceutical Engineering).
“We are glad to receive colleagues from different countries. As there is much we can offer. Farmak is developing rapidly. Today, Farmak is an innovative enterprise that meets European quality standards. The company spent 486 million hryvnyas on modernization last year. This year we intend to increase the amount spent on investment by a third”, said Andriy Goy , technical director of Farmak JSC.
The guests visited the production plants of liquid medicinal products in vials and cartridges, Finished Medicinal Products-2, a pollinator site, a raw materials and supplies warehouse and a sampling area.
During the tour visitors noted the appropriate level of organization of production and the high level of automation. “I really liked the excursion. Production at Farmak is organized in accordance with all standards,” said Yaki Lutski, advisor to TEVA (Israel)
Another distinguishing feature of Farmak, in the view of participants, are its employees. “It is noteworthy that employees are happy doing their work. For example, the stories told by employees stories about their native places, where they fell in love, where they were happy, differed greatly from a dry guided tour. It’s all about the employees. They are devoted to their job and love it. It is clear that such people do their job perfectly”, said one of the guests.
Farmak Company is the market leader. Today, we had the chance to be assured of this once again. This company may serve as an example to follow”, said Oksana Borovyk, Marketing director of the journal Pharmaceutical Industry, at the end of the tour.
Farmak JSC is a Ukrainian manufacturer of European-level medicinal products. Due to the high quality of drugs and an innovative approach to its production, Farmak JSC has been the leader of the Ukrainian pharmaceutical market since 2010*.
Farmak JSC products are exported to 20 countries aorund the world. The company has 220 product files in its portfolio. The company launches up to 20 new drugs annually on the market.
The company operates 19 production lines which comply with GMP requirements. The pharmaceutical quality system has been implemented and is being constantly improved in compliance with current regulatory requirements and world standards: ISO, GMP. The Company undergoes around 15 inspections and checks on an annual basis.
According to the results of 2017, Farmak JSC became the leader in the supply of medicines in Ukraine under the “Affordable medicines” program. Out of the 23 molecules covered by the program, 8 are present in Farmak’s portfolio. These are 26 finished medicinal products, 7 of which are fully reimbursed, and 19 are partially reimbursed.
According to the Economic Truth portal, Farmak JSC entered the ranks of the top 5 most innovative companies of Ukraine in 2017. The Business and Focus magazines named Farmak JSC one of the best employers among Ukrainian companies. Farmak JSC is the only pharmaceutical producer to enter the list of TOP-100 taxpayers in 2017**.
The company employs more than 2,400 people. More than 80% of managerial vacancies are filled by its own candidates. Farmak JSC cooperates actively with the six leading universities of Ukraine.
5 new laboratories operate at the Company. Its own laboratory and technological R&D centre are a research ground for testing new and improving existing technologies of finished medicinal products. The laboratories are equipped with high-tech equipment produced by world-class manufacturers such as Glatt, SBM, Urlinski, Belimed, De Ditrich, Gea, Sartorius, Malvern Instruments and others.
Farmak JSC has had its own complex for manufacturing substances (department for API production) in Shostka since 2015. . Its planned capacity is 100 tons of substances per annum.
* drugs sales in monetary terms, According to Proxima Research data
** data of the Office of Large Taxpayers of the State Fiscal Service of Ukraine
The pharmaceutical company JSC “Farmak” considers the possibility of launching the manufacture of products, in particular, diagnostic test kits, to combat coronavirus spread. “Now we analyse the possibility of arranging the release of supportive care products, disinfectants and antiseptics, diagnostic test kits, protective medical products, including masks, ...
Farmak reinvests 95% of its profits in the development. “We have never paid more than 5% of our profits as dividends. We have reinvested everything in the development. Due to this, Farmak’s capitalization can be estimated at $850 million to $1 billion today. If I sell the shares that I hold, I will earn a […]
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...