In 2017 capital investment in pharmaceutical production of Ukraine increased by 16% - to UAH 1.846 billion. In 2010-2017 an annual average growth rate of investment in pharmaceutics was 18%, while the comparable figure for the rest of Ukrainian economic sectors – 13%.
This has been revealed in the ‘Pharmaceutics of Ukraine. The Info-Graphic Atlas’ research presented in the Ukrainian Chamber of Commerce and Industry on Wednesday. The study was prepared by the TopLead company with the support of the Business Views project, the Ukrainian Chamber of Commerce and Industry, the AEQUO law firm and ‘Pharmaceutical Firm Darnitsa’, a private joint-stock company.
‘Ukraine is dominated by the raw material industries, but pharmacy is an example of industry with higher levels of added value,’ Stanislav Shum, director of the TopLead company mentioned.
According to his data, an employee working in pharmaceutical production creates an added value of UAH 900 000 per year. At the same time, for the IT-industry this figure is UAH 800 000, and for the agricultural sector – UAH 100 000.
At the same time, according to the research, in the Ukrainian well-paid professions ratings pharmacy takes the second place after aviation: in January 2018 an average monthly salary of one employee was UAH 15 400.
The authors of the study emphasize that the pharma market of Ukraine is characterized by high competition. 115 enterprises has got the license for the production of medicines in Ukraine, but none of them takes more than 7% of the market.
At the same time, 77% of pharmaceutical enterprises operate profitable, and the majority of domestic producers adhere to standards of good manufacturing practices (GMP).
‘Pharmacy is a highly intelligent industry with a large added value,’ Ihor Nikiforchyn, Director of Development at Pharmaceutical Firm Darnitsa, stated. According to him, leading Ukrainian enterprises invest considerable funds in research and development. In particular, Darnitsa invests 10% of their gross income in R&D.
According to data of info-graphic atlas, Ukrainian pharmaceutical products are exported to 81 countries of the world. With the volume of $ 180 million exports Ukraine is ranked 61st among the world's exporters of pharmaceutical products, but experts predict improvements in the coming years.
‘This industry has a future and opportunities for development,’ President of the Chamber of Commerce and Industry of Ukraine Hennadii Chyzhykov believes.
As the authors of the study point out, growth of investments in pharmaceuticals is a world trend. According to outlooks, in 2022 global R&D spending will grow at the rate of 40% comparing to 2017, with the cost at $181 billion.
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