12:40 15.11.2018

Farmak seeks to boost exports to 40% of total sales in five years

2 min read
Farmak seeks to boost exports to 40% of total sales in five years

Farmak plans to boost exports to 40% of total sales in coming five years, PJSC Farmak CEO Volodymyr Kostiuk has said, speaking about the company's entrance the Australian market at the Ukrainian Pharmaceutical Forum in Kyiv last week.

According to him, in 2015, negotiations were held with representatives of an international company with the office in Australia. And in 2017, Farmak shipped the first batch to this country.

"It took us a little time to enter this market [Australia]. After all, our products meet the high requirements that are needed to deliver products to this region... Having a certificate from the Australian regulator facilitates access to other markets. Our goal is to increase exports in the sales structure up to 40% in the next five years," Kostiuk said, adding that the company's closest horizons are the EU countries (Germany, the U.K.), the United States, Mexico, and the United Arab Emirates.

According to the company's press service, the share of sales to the regions of Australia and Oceania in Ukrainian exports of pharmaceutical products is only 0.3%. This is due to the fact that the Australian market is considered well regulated - at the level of the United States, the EU, so few Ukrainian companies can ship their products to Australia.

Farmak is a member of the Association Manufacturers of Medications of Ukraine (AMMU).

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