Events 2022-07-15T07:07:41+03:00
Ukrainian news
Farmak Not Expecting Big Harm From Russia's Sanctions

Farmak Not Expecting Big Harm From Russia's Sanctions

The Farmak Company (Kyiv), a major producer of medicines, does not expect that the sanctions imposed by the Russian Federation on the company will have essential negative impact on the work of the company.

Dmytro Taranchuk, the director of the legal department of Farmak, said this in an interview with Ukrainian News Agency.
"We are analyzing the practice of application of sanctions and it will be clear in some time how they will work. But we will not feel essential influence," he said.
He says the company has the European vector of developing exports.
"We count on Eastern Europe, Western Europe and there we are making our efforts and our markets are there together with the markets we have in the Commonwealth of Independent States. The vector of our development is not aimed at Russia," he said.
He says the company is interested in exporting its products to Brazil, Argentina, and Vietnam.
As Ukrainian News Agency earlier reported, on November 1, the Russian Federation imposed sanctions against Kyiv-based Farmak Company.
The sanctions provide for freezing of non-cash funds, uncertified securities, and property in the territory of Russia and a ban on transfer of funds abroad from Russia.
In 2017, Farmak, according to international financial reporting standards, increased its profit by 23.9% or UAH 161.888 million year over year to UAH 839.090 million, having increased net revenue by 24.01% or UAH 970.409 million to UAH 5.583 billion.
On January 31, Farmak International Holding GmbH reduced its share in the Farmak company (Kyiv), a large producer of medicines, from 11.28% to 5.78%.

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