Despite the war, Ukraine’s largest pharmaceutical company, Farmak, opened a new production site for medicines in nebules and launched 11 new products on the market. These are medicines for the treatment of respiratory tract and bronchial asthma, thrombosis, and acute myocardial infarction, as well as radiocontrast, anti-inflammatory and analgesic medicines, and lozenges with vitamins for children. In addition, in the 4th quarter of 2022, the company plans to launch 6 more new medicines on the market.
“Our company is not only a leader in the production and export of pharmaceutical products, but also the largest taxpayer in the industry. Therefore, today we are facing two important tasks at once: to provide Ukrainians with high-quality medicine and to fill the state budget with taxes. And we do it. Moreover, on February 28, in the midst of the war, we paid taxes in advance, realizing how important business support remains for the state,” said Volodymyr Kostiuk, CEO of Farmak.
The company’s product portfolio includes about 500 types of pharmaceutical products. Among the main areas are endocrinological, gastroenterological, cardiological, neurological, anti-cold and other medicines. The company annually reinvests up to 90% of profits in development. Over the past 20 years, the amount of investments in the development of the enterprise has amounted to more than 400 million US dollars. The company’s annual investment in research and development is approximately US$15 million. The production facilities of Farmak and its R&D complex are internationally certified and meet the high requirements of European GMP standards (good manufacturing practice).
