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Farmak raises net profit by 35.6%, to UAH 1.64 bln in 2021

KYIV. May 4 (Interfax-Ukraine) – The Ukrainian pharmaceutical manufacturer Farmak (Kyiv) in 2021 increased its net profit by 35.6% compared to 2020, to UAH 1.638 billion.

According to the company’s announcement in the information disclosure system of the National Securities and Stock Market Commission, shareholders will consider the results of work for 2021 at a general annual meeting of shareholders scheduled for June 7 remotely.

The company clarifies that in connection with the damage incurred in 2022 as a result of military actions by the army of the aggressor country of the Russian Federation, which led to the destruction of a significant part of the raw materials and commodity reserves, as well as the working capital of Farmak, distribution of profit received in 2021 will not be held.

As reported, Farmak’s 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.

In 2020, Farmak received a net profit of about UAH 1.138 billion, which is almost 7.8% more than in 2019 (UAH 1.056 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 in development.

According to the unified state register of legal entities and individual entrepreneurs, the ultimate beneficial owner of Farmak is the head of the supervisory board, Filya Zhebrovska, who owns 80% of the company’s shares.