05/31/2023 | Press release | Distributed by Public on 06/01/2023 07:14
The leader of the Ukrainian pharmaceutical market, the Farmak company, has started selling a drug of its own production to Malaysia. This is the 7th country in the Asia-Pacific region and the 58th in the world where the Ukrainian company exports medicines.
Spray for the treatment of irritation and inflammation of the oropharynx from Farmak appeared in Malaysian pharmacies this May. Among Southeast Asian countries, the company also supplies drugs to the Philippines, Vietnam, Thailand, Singapore, Indonesia and Hong Kong.
Before the start of a full-scale war, Asia occupied up to 40% of Ukraine's export structure, but there were almost no Ukrainian-made medicines in the South-Eastern region. In 2021, Farmak was the first national pharmaceutical manufacturer to open a representative office here, based in Vietnam.
"We already see how the forecasts of economic experts, who in recent years have been saying that the Asian market will actively grow, are coming true. In turn, we plan to increase the expansion in the region, and today Malaysia has been added to the number of export countries in Southeast Asia. This is a developed and promising country, where Ukrainian-made medicines should definitely be presented," says Volodymyr Kostiuk, Executive Director of Farmak.
Moreover, the Vietnamese market, which has become the center of the company's activities in the Asian region, sells about 20 medicines of the company, which are presented on the shelves of pharmacy chains and also purchased by medical institutions. Among them, a significant part is consists of a group of drugs for the treatment of cardiovascular and respiratory diseases.
Farmak is implementing a strategy of transformation into an international company and is preparing to open its own production facility with an R&D center in Spain in 2024. Today, medicines of the Ukrainian manufacturer are actively sold in Europe, including the EU, Central and South America, the Middle East, and Asia.
*the leader of the pharmaceutical market in Ukraine in terms of sales of medicines in monetary terms (according to Proxima Research as of May 2023).
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