Farmak JSC stands for a civilized competition and defends its rights to the well-known brand “Corvalol Corvalolum”.
The company emphasizes the need to protect intellectual property and hopes for objective and impartial consideration of the case regarding the well-known brand “Corvalol Corvalolum”.
On October 9, during the hearing the Supreme Court concluded that it was necessary to terminate proceedings on the cassation appeal filed by FARMAK JSC and the Ministry of Economic Development of Ukraine to the judgment of Kyiv Commercial Court of Appeal dd. 26.06.2018 pending the relevant decision of the Grand Chamber of the Supreme Court in another case challenging the decision of the MEDU Appeals Chamber. The Grand Chamber will decide on proper jurisdiction regarding intellectual property objects.
“The court suspended the proceedings pending the decision of the Grand Chamber of the Supreme Court as to the proper jurisdiction of this category of rights, commercial or administrative. After the Grand Chamber has finally decided on the case, to which the Court referred in this hearing, the proceedings in respect of the well-known brand “Corvalol Corvalolum” will be reinstituted”, commented Dmytro Taranchuk, Lawyer, Head of the Legal Department of Farmak JSC.
We remind that upon the appeal of Pharmaceutical Firm “Darnitsa”, Kyiv Commercial Court of Appeal cancelled the decision of the Ministry of Economic Development of Ukraine recognizing the brand “CORVALOL CORVALOLUM” as well-known.
The motions filed by both the defendant – the Ministry of Economic Development and the third party – Farmak JSC were declined, evidencing biased proceedings in the appellate instance.
Historically, Farmak has owned the brand “CORVALOL”, marketed since 1960. “Corvalol” was developed in 1960 by Lomonosov Kyiv Chemical and Pharmaceutical Plant, whose legal successor is Farmak JSC.
Farmak was established on the basis of Lomonosov Kyiv Chemical and Pharmaceutical Plant specialized in the manufacture of pharmaceutical substances and radiopaque media on the territory of the former Soviet Union.
In 1995, the chemical plant was transformed into a robust pharmaceutical company manufacturing finished dosage forms, which became the beginning of a new era in the company’s life.
Preparation for the production of “Corvalol” was initiated by Lomonosov Kyiv Chemical and Pharmaceutical Plant, whose legal successor is Farmak JSC.
The drug was developed by Senior Chemist V. Yakovleva.
The first batch of the medicinal product “Corvalol” was released under the order of Lomonosov Plant dd. 15.10.1960.
Since then, Lomonosov Plant was the only manufacturer of “Corvalol” in the former USSR.
Since 1991, Farmak JSC has been the only manufacturer of this medicinal product in the post-Soviet space.
Furthermore, “Corvalol” trademark is protected in 15 countries of Europe and Central Asia: Germany, Poland, Lithuania, Estonia, Latvia, Belarus, Moldova, Romania, Bulgaria, Turkmenistan, Armenia, Georgia, Azerbaijan, Tajikistan, Kyrgyzstan, and Kazakhstan.
The use of the brand “Corvalol Corvalolum” is generally confirmed by packaging for the period from 1991 to 2001 inclusive.
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...