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30th International Medical Exhibition PUBLIC HEALTH`2021

6-8 October 2021 • Ukraine, Kyiv, IEC

Farmak intends to invest more than $ 40 million in development in 2020

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Farmak intends to invest more than $ 40 million in development in 2020
Farmak, a major drug manufacturer (Kiev), intends to invest over $ 40 million in its development in 2020.
This year alone, according to the executive director of the Farmak company Vladimir Kostiuk, they plan to invest over $ 40 million in the development of production facilities and infrastructure facilities. In addition to the creation of new facilities, Farmak is also working with environmental facilities: this year, the reconstruction of their treatment facilities is being completed.
In 2020, the company celebrates its 95th anniversary. Over the years, it has transformed from a chemical production and since the mid-90s, the company has completely changed its strategy, began to produce finished pharmaceutical products, and began to intensively invest in fixed assets. Historically, today the company invests 95% of its profits in development and this is one of the main directions thanks to which a local company can go global. Over the past 5 years, the investments of JSC Farmak in the scientific and technical complex amounted to $120 million.
Farmak ended 2019 with a profit of $37 million, while the company's revenue reached  $231.9 million.
Farmak products are exported to more than 20 countries around the world; the company's portfolio includes 220 product dossiers. The enterprise has 20 production lines that comply with GMP requirements. 14 production lines are certified by the European regulatory authority.