Pharmaceutical company JSC Farmak has acquired marketing pharmaceutical companies in the Czech Republic, Slovakia and Ukraine, together with the relevant IP rights and trademarks, from British private equity fund Novator.

According to Farmak's website, the decision to expand Farmak's business in the EU markets is part of a global strategy evolve into an international company.

"Following thorough analyses of the available options, Farmak has chosen to acquire marketing companies given the speed of entry into the Czech and Slovak markets since these companies already have marketing capabilities, cooperate with the largest pharmacy chains and key drug distributors in the both EU countries," Farmak said.

In addition, the pharmaceutical company said that, as a standalone transaction, Farmak has also acquired Ukrainian business of Novator's portfolio company.

"Farmak has become the owner of its product portfolio, selected assets and IP rights for products and trademarks. This will strengthen Farmak's position in the cardiology and cough&cold ATCs," the company said.

Both transactions have been completed after the seller fulfilled the conditions precedent. The acquired target businesses and operations fully comply with the legal requirements and high ethical and corporate standards of Farmak.

Farmak is the leader of the Ukrainian pharmaceutical market by sales pharmaceuticals in monetary terms. The company has a 6% share of the Ukrainian market and exports its products to more than 50 countries, including the EU, Asia, Central and South America and the Middle East. Farmak has representative offices in Spain, Poland, UAE, Kyrgyzstan, Uzbekistan and Kazakhstan.