Sanofi considers expanding in Ukraine pharma market

French drug major Sanofi (Euronext: SAN) is considering a massive expansion into the Ukrainian pharmaceutical market in the coming years, through a significant increase of local sales and the launch of new products in the market, in particular generics.

Jean-Paul Shoer, general director of Sanofi-Aventis Ukraine, in an interview with local Investgazeta business paper last year said that the company's revenue in the Ukrainian market reached 1.1 billion hryvnia ($137.5 million), which is 15% more than in 2010.

Currently, the company's share in the Ukrainian generic drug market is estimated at 1%, however, according to Sanofi’s expectations, during the next two years, it can be significantly increased, which should be achieved through the increase of local sales by 25%.