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Dmytro Shymkiv: World Pharmaceutics is One of The Most Prospective Investment Trends

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Nowadays pharmaceutical industry of Ukraine is rising extremely not only because of specific activities but due to implementation of prospective production technologies and management. It is mentioned in the “2021 Pharmaceutics of Ukraine” reference book that Top Lead Company prepared together with Darnitsa, Pharmaceutical Company, and with the support of Business Views Analytical Project.

According to the publication, the top twenty companies in the industry increased sales in 2020, and more than half of them increased their presence in the drugs market. At the beginning of this year the market value assessment was USD 4 bln (four billion US dollars). The average annual growth rate of the pharmaceutical segment that was 12.6% before the pandemic slowed down slightly up to 7.9%. Among other economic sectors it became almost a record rate.

Photo by Christina Victoria Craft on Unsplash

According to  Dmytro Shymkiv , the Chairman of the Board of Directors of Darnitsa Group, the stability of pharmaceutics in Ukraine and all over the world toward the global economic crisis is due to large-scale implementation of innovations. Before the pandemic Ukrainian pharmaceutical companies invested UAH 1.5 bln (one billion five hundred million hryvnias) in total in automatization of production and management digitalization that allowed to increase labour productivity and avoid the shortage of drugs during the lockdown.

Now pharmacy has one of the leading positions among other industries as to productivity: there is almost UAH 1.4 mln (one million four hundred thousand hryvnias) of GDP per an employee. Due to this a pharmaceutical job is still one of the most highly paid that attracts highly skilled workers. Under such favourable conditions the drugs share of the Ukrainian production for the last 10 (ten) years increased from 28% up to 37% in the monetary equivalent. Though the drugs import prevails in foreign trade, since 2015 the export volumes have increased and reached the amount of USD 235 mln (two hundred and thirty-five million US dollars).

In addition to positive economic trends the service digitalization level increases as well. According to Shymkiv, this trend has become attractive for investors in the context of the 2020 quarantine restrictions. In particular, it is about the transition to electronic document flow, step-by-step implementation of electronic prescriptions, promotion of drugs retail sales through the Internet. According to the forecast of experts expressed in the investigation of Darnitsa and Business Views the digital commerce share will be at least 15% in the industry till 2026.

The top manager of Darnitsa Group added that national pharmaceutical companies are always negotiating with foreign pharmaceutical corporations. The subject of their agreement is joint-development of innovative drugs. He also mentioned that the Ukrainian pharmacy is continuously working over to expand export. Among new prospective export directions of the Ukrainian pharmaceutical industry there are not only countries of the EU (European Union), but South East Asia, North Africa and Latin America.

Shymkiv is sure that Ukrainian pharmaceutical business has maximum possibilities, enough
resources and adequate ambitions to get into the world market and become international in the nearest future. The top manager’s words are approved by the annual growth of sales of national pharmaceutical products at the domestic market that became feasible due to implementation of new innovation technologies into the Ukrainian pharmaceutical production. The Ukrainian pharmacy will continue unleashing its potential in case it adheres to such course lines as extension of legislative integration, health services reforms, development of public and private partnership.