By KYIV. Nov 8 (Interfax-Ukraine) – Farmak pharmaceutical company (Kyiv) has opened a site for the production of drugs in nebulizers (a device for producing a fine spray of liquid, used especially for taking particular medicines) and launched 11 new products on the market, plans to bring six more new medicines to the market by the end of 2022.
According to a company press release, among the 11 new drugs, there are, in particular, drugs for the treatment of respiratory tract and bronchial asthma, thrombosis and acute myocardial infarction, anti-inflammatory, painkillers and vitamins for children.
In addition, the company said that at the beginning of the war, Farmak paid taxes in advance to support the country’s economy.
"We are facing two important tasks at once: to provide Ukrainians with quality medicine and to fill the state budget with taxes. And we are doing 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," executive director of the company Volodymyr Kostiuk said.
As reported, Farmak in 2021 increased its net profit by 35.6% compared to 2020, to UAH 1.638 billion. In 2020, the company’s net profit increased by 7.8%, to UAH 1.138 billion.
In connection with the damage incurred in 2022 due to the military actions of the Russian Federation, which led to the destruction of a significant part of the company’s raw materials and commodity stocks, as well as its working capital, the distribution of the profits received at the end of 2021 will not be carried out. According to Farmak, its losses due to a fire at the beginning of the war in a warehouse where ready-made drugs, raw materials for drugs, and primary packaging were located amounted to about UAH 1.5 billion.
Farmak is the leader of the pharmaceutical market with a share of 5.9% in monetary terms. It produces medicines in all 14 therapeutic groups. Among the main areas are anti-cold, endocrinological, gastroenterological, cardiological, neurological portfolios. Every year, the company introduces about 20 new complex modern drugs to the market. About 100 medicines are currently under development.
