Competition agency fines Farmak UAH 7.6 m for untrue advertisement
The temporary administrative board of the Antimonopoly Committee of Ukraine has fined Kyiv-based public joint-stock company Farmak UAH 7.6 million for issuing a false advertisement about the medicine Amizonum.
"The company issued untrue information during the advertisement of the medicine on television," reads the report of the committee issued on Wednesday.
The body said that the advertisement contained a statement that allegedly 9 out of 10 Ukrainians select Amizonum. Actually the mentioned 90% are persons who had a cold and used the medicine, while the percentage of consumers who used Amizonum was only 6.2%, according to the same study.
The competition agency established that during the advertising campaign in November 2011 the sales of the medicine grew by almost 3.5 times compared to November 2010, to 675,600 packages.
The body said that the infringement was stopped.
Farmak in 2011 increased its net profit by 19%, to UAH 247.04 million and its net revenues grew by 20.1%, to UAH 1.526 billion.
According to the company, in 2011, it was a leader in monetary terms in sales among Ukrainian pharmaceutical producers, with an 18.4% share of the market.