Volodymyr Kostiuk, Executive Director of “Farmak”, has ranked the best top managers in his field of work.
Volodymyr Kostiuk has been employed by “Farmak” since 2008 and appointed as the Executive Director in 2012. The strategic task of Volodymyr Kostiuk is to strengthen the positions of JSC “Farmak” in the international markets, expand the geography of presence and maintain the leading position in the Ukrainian market.
Today “Farmak” is growing rapidly. In 2018 the Company’s net profit was more than UAH 1 billion, 25% higher than in 2017. “Farmak” supplies to the domestic market and foreign partners with 75% and 25% of its products, respectively. Uzbekistan, Kazakhstan, Belarus, Poland, Germany and Bulgaria are among them. In 2018 the Company opened new markets: Australia, Greece and Libya. “Farmak” plans to increase its share of exports to 40% by 2023.
Last year the Company launched new manufacturing line of solid dosage forms, the most up-to-date and high-productive line in the country. In 2019, according to Kostiuk, “Farmak” plans to invest over USD 1 billion in development. These funds will be spent on further purchases of new manufacturing equipment for medicinal products.
Also, last year the Company brought 34 new stock items onto the market. According to the results of 2018, “Farmak” became the leader of “Affordable Drugs”, the government program reimbursement of life-saving medicinal products.
Farmak, as a member of the European Generic Medicines Association (EGA) – Medicines for Europe – and the Association of “Manufacturers of Drugs of Ukraine” (the AMDU), advocates for the creation of a coordination group at the Office of the President of Ukraine to prevent a shortage of medicines in Ukraine during the pandemic. […]
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 […]