Farmak raises net profit by 7.8% in 2020
The Ukrainian pharmaceutical manufacturer Farmak (Kyiv) in 2020 received a net profit of about UAH 1.138 billion, which is almost 7.8% more than in 2019 (UAH 1.056 billion).
According to the company's statement in the information disclosure system of the National Securities and Stock Market Commission on the annual general meeting of shareholders scheduled for April 30, the company's assets increased by 26.8% over the year to UAH 8.427 billion.
The company's retained earnings over the past year increased by 20.5%, to almost UAH 6.184 billion, while the total debtor indebtedness practically remained at the level of 2019 and amounted to UAH 1.695 billion.
Farmak is the leader in the pharmaceutical market with a 5.9% share in value terms. The company manufactures medicines in all fourteen therapeutic groups. Among the main directions are anti-cold, endocrinological, gastroenterological, cardiological, neurological portfolios. Every year Farmak introduces to the market about 20 new complex-component modern drugs, about 100 drugs are currently in development.
Over the past five years, Farmak's investments in the scientific and technical complex, production equipment, and research activities amounted to UAH 3.4 billion.
Farmak is a member of the Manufacturers of Medications of Ukraine association.