Jul 30, 2021

Farmak is increasing export to the Latin American countries

Farmak has won the international tender and makes arrangements for the next scheduled shipment of medicinal products to Mexico. The export share in the Company’s total sales at year-end 2020 was 29.6%, while the number of countries importing the products of the Ukrainian manufacturer has grown to over 30.

Farmak has started its expansion in the Latin America region with Mexico that was the first one to register and commercialize one of the essential medicinal products used as intravenous general anaesthetics.

The Company also boosts the cooperation with other markets of the region: Peru, Columbia, El Salvador, Chile, Panama, Bolivia and other Latin American countries.

To break into new markets is strategically significant for Farmak. According to the public data of the State Customs Service of Ukraine, the export share of pharmaceutical products manufactured by Farmak has reached 30.5% among all Ukrainian manufacturers for the first 6 months of 2021.

«The strategic focus of Farmak in the Latin American countries is to increase the product portfolio in the markets where the Company has been already commercializing its products and to take on new markets of the region. Export always demands from the companies to have the relevant business model, to manufacture high-quality products, to have profound knowledge of regulatory aspects and to analyse the market conditions. Due to our experience and the compliance of our medicinal products with high international standards, the Ukrainian manufacturer is recognizable far beyond Ukraine,» said Volodymyr Kostiuk, Chief Executive Officer of Farmak.

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