Farmak posts 30% fall in net profit in 2014
Ukrainian pharmaceutical producer PJSC Farmak (Kyiv) in 2014 saw net profit fall by 29.7%, to UAH 206.854 million.
According to a company report in the information disclosure system of the National Commission on Securities and the Stock Market, the shareholders will discuss the results of the company's activities at an annual general meeting scheduled for March 19.
As reported, on February 24, 2015 the Farmak supervisory council dismissed supervisory council head Pavlo Zhebrovsky, who had held this post for more than seven years, and appointed Antonina Zubkova instead of him.
The parent company of Farmak, Dutch public company with limited liability Farmak Group N.V., on February 11, 2015 after making changes to the register of registered securities owners increased its stake in the company to 67.51% from 41.79% of the voting shares (4,910,153), succeeding Cypriot F.I.&P. Holdings Limited, whose share fell to 0.4466% from 25%.
Farmak produces up to 200 items of medicines. It plans by 2020 to reach the sales of $1 billion, reducing the share of sales in the domestic market from 80% to 60%, and place 10% of sales in the well regulated markets on Eastern Europe and the CIS states.