Ukraine's Farmak expects strong sales growth

Ukrainian pharmaceutical producer Farmak says that it plans to increase its sales 79% by 2009, compared with last year's figure of 244.0 .0 million hryvni ($48.2 million), according to the Interfax news agency. The company's director general, Filya Zhebrovska, said that annual sales for 2006 will be up 18% on 2005, and for 2007 are forecast to grow an annual 26%-27%.

Farmak is currently undertaking a seven-year investment program worth 86.0 million euros ($114.6 million) that will see the upgrading of existing production facilities and the construction of a new one to Good Manufacturing Practice standards.

However, 4%-5% of this investment will be allocated for the promotion of new drugs, said Mr Zhebrovska. Next spring, the company will start building a new pharmaceutical plant that will make a variety of products including injectables. New production lines are to be launched at an existing facility in Kyiv.