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Farmak to set up representative office in Vietnam
KYIV. Aug 27 (Interfax-Ukraine) – Pharmaceutical company Farmak (Kyiv) will set up a representative office in Vietnam.
As the company said in the information disclosure system of the National Securities and Stock Market Commission, such a decision was made by its supervisory board on August 19 in order to carry out economic activities in Vietnam.
Farmak is the leader of the Ukrainian pharmaceutical market. The company’s product portfolio includes about 200 brands. Among the main directions are endocrinological, gastroenterological, cardiological, neurological, anti-cold and other drugs.
The company annually reinvests up to 90% of its profits in development. In total, more than $310 million have been invested in the modernization of production since 1995. Annual investments in research and development are approximately $15 million.
Over 2020, Farmak increased its net profit by 7.8% compared to 2019, to UAH 1.138 billion, and sales income reached UAH 7.5 billion.
The export share increased to 29.6% in total sales. Export deliveries increased by 40% over the year. The company exports its products to more than 25 countries around the world.
