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Ukraine's pharmaceutical sector grows by 11% per year on the average, which is three times faster than the country's economy as a whole.
Ukraine's pharmaceutical sector has started hiring high-profile top managers with experience in large international companies, which indicates this is an industry with good prospects.
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"The pharmaceutical industry is like a new IT sector. While in the pharmaceutical industry, I have been saying: Hiring efficient and successful managers in the sector is a vivid demonstration of its attractiveness and great potential," Chairman of the Board of Directors at Ukraine's Darnitsa Group Dmytro Shymkiv wrote on Facebook on July 5, congratulating ex-CEO of Kyivstar Peter Chernyshov on his appointment as JSC Farmak's supervisory board member.
PrJSC Pharmaceutical Firm Darnitsa became the first Ukrainian company in the pharmaceutical industry that started hiring international top managers. In September 2018, Former Deputy Head at Presidential Administration of Ukraine Dmytro Shymkiv, who had previously worked as CEO of Microsoft Ukraine, took the post of Darnitsa Group Board Chairman. In January 2019, Andrii Obrizan was appointed CEO at Pharmaceutical Firm Darnitsa. Earlier, he worked for large Ukrainian and international pharmaceutical companies, namely TEVA/PGT Healthcare and Richter Gedeon Nrt.
On July 4, 2019, Chernyshov, who had earlier served as Carlsberg Group's Vice President for Eastern Europe and President at Kyivstar, became Farmak's supervisory board member after the mobile operator's shareholders had decided not to renew his contract, which expired in July 2018.
Ukraine's pharmaceutical sector grows by 11% per year on the average, which is three times faster than the country's economy as a whole.
Pharmacy sales of drugs in the domestic market in 2016-2018 increased from 1.115 billion to 1.144 billion packs, which in monetary terms is estimated at US$2 billion and US$2.7 billion, respectively.
Farmak is one of Ukraine's major pharmaceutical companies. In 2018, the company increased its net profit by 25.16%, to UAH 1.05 billion (US$41.2 million).
PrJSC Pharmaceutical Firm Darnitsa leads in terms of drug production in physical terms. The company's portfolio includes about 250 names of finished medicines. In 2018, Darnitsa boosted its net profit by 31.3% to UAH 449.134 million (US$17.6 million).