By KYIV. Nov 23 (Interfax-Ukraine) – Pharmaceutical company JSC Farmak (Kyiv) will invest more than EUR 20 million in the construction of a plant in Spain.
According to a press release from the company, the plant will be built in the suburbs of Barcelona and will begin operation in early 2024.
An enterprise with a complete supply chain, a closed production cycle and quality control will produce sterile medicines in the form of solutions, suspensions in vials and syringes.
The production will comply with European GMP standards and US FDA standards.
In addition to production, Farmak plans to open a multifunctional laboratory complex with an R&D center in Spain.
"We planned to open a plant in the EU even before the start of the war. Farmak is on the way of transformation into an international company. Therefore, we decided not to change our strategy and not limit our development opportunities. Firstly, this will help Farmak become the first domestic company to integrate into the European pharmaceutical market. Secondly, we will get a number of advantages, among which are deepening cooperation with European partners and importing best practices to Ukraine," Volodymyr Kostiuk, executive director of the pharmaceutical company, is quoted in the press release.
Farmak is the leader of the pharmaceutical market of Ukraine in terms of sales of medicines in monetary terms. The company has a pharmaceutical plant in Kyiv and a plant for the production of active pharmaceutical ingredients in Shostka (Sumy region).
The company’s product portfolio includes more than 450 medicines. Among the main areas are endocrinological, gastroenterological, cardiological, neurological, anti-cold and other drugs. The company annually reinvests up to 90% of profits in development. Currently, Farmak’s products are represented in more than 40 countries of the EU, Central and South America, the CIS, the Middle East, Asia, etc.
According to the unified public register of legal entities and sole proprietors, the ultimate beneficial owner of Farmak is the head of the supervisory board, Filya Zhebrovska, who owns 80% of the company’s shares.
