12:34 09.09.2019

Zagoriy: Darnitsa might be worth more than $700 million

3 min read

Shareholders of the pharmaceuticals company Darnitsa are ready to consider an offer to sell the business, but only if a potential buyer offers more than $700 million, Darnitsa’s co-owner Glib Zagoriy told in an interview published by the  Youtube-channel Andrew Ostapchuk.

“If we manage to fulfill all the plans we have created for ourselves inside the company, and if the country’s economy doesn’t let us down, I would be ready to talk about a sum of more than $500 – $600 million,”the entrepreneur said. “But for that me, my team, my company – we all have to do a colossal amount work.”

When the journalist asked Glib Zagoriy to specify the sum, he would be ready to sell his business for, he answered that the talks might start even from $700 million.

Zagoriy said that with the long-term trend on internationalization in world pharmaceuticals industry, Ukrainian pharma will sooner or later lose its sovereignty.

“Iwill be straight: four months ago we’ve got an offer for $400 million (an interview was published on Sept.4) A buyer put the money on the table and said: ‘Tomorrow we’ll sign a contract’. I just smiled and asked DmytroShymkiv to carry on the tasks, he was assigned to as a head of the Darnitsa’s ruling company supervisory board. He understood,” Zagoriy said.

As reported earlier, Darnitsa shareholders have set a goal to turn the Ukrainian company into a world pharma player. To make that happen, Darnitsa has been leading negotiations, searching for potential partners on the international pharmaceuticals market. Moreover, the company has launched a process of digitalization for the vital cycle of medical agents and is transferring to the electronic document flow. Also Darnitsa allocates 10 percent of its gross income to the research and development, shareholders said.

Pharmaceutical company Darnitsa is Ukraine’s leader of medicines production in volume terms. In 2018 the company increased its net profit by 31.3 percent to UAH 449,134 million.

Glib Zagoriy was born in 1976. He has a pharmaceutical science doctor degree. In 2009-20014 he was working as CEO of Darnitsa. In 2014 he was elected a Member of the Ukrainian Parliament. He was a member of the parliamentary committee on veterans and people with disabilities affairs. He also was one of the initiators of the Ministry of Veterans’ Affairs creation. In summer 2019, after the end of his term in the VIII convocation of the Verkhovna Rada, he left politics to focus on business.

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