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.
According to the decision of economic courts of all instances (2009-2010), the name “Corvalol” (“Corvalolum”) was used exclusively by one manufacturer as the name of the medicinal product. Information that Corvalol was manufactured by 70 pharmaceutical enterprises of the USSR is not true. In the middle of 20th century, Lomonosov Kyiv Chemical and Pharmaceuti...
On October 30 the next court hearing was held in the case regarding the well-known trademark Corvalol Corvalolum. During the court hearing, after having heard the parties’ arguments and a complete and unbiased analysis of the case-file, the Economic Court ruled to dismiss the claim of Pharmaceutical Firm “Darnitsa” against the Ministry of Economic Deve...
Farmak was granted 7 awards in the contest “Best Corporate Media of Ukraine 2019” held by the Association of Corporate Media of Ukraine. The jury consisted of professionals granted the Grand Prix as the highest award to the corporate newspaper “Farmak Life” and the Company’s website. They were awarded with the title “Best Corpmedia Ukraine […]