Farmak invests more than €20 million in a new pharmaceutical plant in Spain

Farmak invests more than €20 million in a new pharmaceutical plant in Spain

There will be more Ukrainian medicines in Europe: Farmak is building a plant in Spain

Ukraine's largest drug manufacturer Farmak is investing more than 20 million euros in a new factory of its own drugs in the suburbs of Barcelona.

The plant, with a complete supply chain, closed production cycle, and quality control, is scheduled to open in early 2024. It will produce sterile medicines in the form of solutions, suspensions in vials and syringes. In addition, the company plans to open a multifunctional laboratory complex with an R&D center in Spain.

Similar to Farmak's aseptic facilities in Ukraine, the company's Spanish production will meet the high European GMP and US FDA standards.

"We planned to open a plant in the EU long before the start of the war. Farmak is on the way to transforming into an international company. Therefore, we decided not to change our strategy and not to limit the possibilities of enterprise development. Firstly, it will help Farmak, the first Ukrainian company, to integrate into the European pharmaceutical market. Secondly, we will get a number of benefits, including deepening cooperation with European partners, a larger representation of Ukrainian business in the European market, sharing knowledge with European specialists within the research laboratory and importing best practices to Ukraine," says the Executive Director of Farmak Volodymyr Kostiuk.

The company does not plan to move production facilities from its Ukrainian factories but is building a new production facility.

Farmak's product portfolio currently includes more than 450 types of medicines. Among which are endocrinological, gastroenterological, cardiological, neurological, and anti-cold drugs. In addition to providing drugs to the Ukrainian market, Farmak exports to more than 40 countries in the EU, Central and South America, the CIS, the Middle East, and Asia. At the same time, the company's focus invariably remains on the priority coverage of the needs of the Ukrainian healthcare system.

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