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28 January 2022

Darnitsa among the TOP-5 Largest Players of the Ukrainian Pharmaceutical Market

28 January 2022

Darnitsa Pharmaceutical Company was included in the list of the largest Ukrainian pharmaceutical companies according to the magazine “TOP-100. Ranking of the Largest”. The authors of the top list noted that in 2020, due to the timely response to the challenges of the pandemic and investments in the amount of UAH 291 mln, Darnitsa managed to increase its gross income by 9%. In 2021 the company increased the gross income by another 20%. 

An additional stimulus for the growth of the domestic pharmaceutical industry is the need of other countries for affordable and effective basic medicines. For example, Darnitsa exports drugs to 15 countries of the world. The company has been receiving the international GMP (Good Manufacturing Practice) Certificate since 2002. In 2021, Mexico and Brazil became one of the three largest importers of Ukrainian medicinal products, so in the future Darnitsa is set to expand its presence in Latin American markets.

However, the rate of development of both Darnitsa and the Ukrainian pharmaceutical industry as a whole could be even higher if they were not restrained by the fact that the European Union market still remains largely closed to Ukrainian medicinal products. One of the main barriers to the free access to the European market is a lack of recognition at the EU level of the Ukrainian results of inspections of their manufacturing in accordance with the requirements of good manufacturing practice (GMP). As a result, Ukrainian pharmaceutical manufacturers are forced to undergo repeated inspections and quality control of batches of medicines in the EU, which requires additional time and resources and negatively affects the competitiveness of Ukrainian drugs.

“COVID has shown that, in general, high-quality European medical industry is still not perfect. Among other things, it was dependent on the supply of basic drugs from China and India. When the two countries restricted exports in the midst of the pandemic, the EU encountered a deficit. The situation opens new opportunities for Ukraine, we can expand the export of goods with high added value, to gain a toehold in the key market of the European Union. Ukrainian pharmaceutical industry is ready for this both in terms of available capacities and quality of products,” said Dmytro Shymkiv, Chairman of the Board of Directors of Darnitsa Group, in a comment to the magazine “TOP-100. Ranking of the Largest”.

From the perspective of Dmytro Shymkiv, the Ukrainian government needs to work as hard as possible on the introduction of the so-called “pharmaceutical visa-free access” so that Ukraine gets the opportunity to supply its medicines to European markets and does not lose the opportunity to strengthen export potential.

“The total investment in technical upgrades over the past five years has been $ 400 million. Now it’s the government’s turn. Our state should prepare and sign agreements with the European Union, which will open wide access to this key market for Ukrainian medicines,” emphasized Shymkiv.

Background Information

Darnitsa Pharmaceutical Company PrJSC was established in 1930. Since 1998, Darnitsa has been the leader in Ukraine in terms of production of medicines by volume. The strategic areas of the portfolio development are cardiology, neurology, pain management. In the last five years, Darnitsa has launched 63 new pharmaceutical brands.

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