Chemiсals and pharmaceuticals

Ukrainian major pharmaceuticals producer Farmak [FARM UZ, HOLD] announced on Tuesday, February 24 that is posted a net loss of UAH 71.86 mln (USD 13.56 mln) for 2008.

At the end of 2008, the assets of Kyivmedpreparat [KMED UZ, BUY] was equal to UAH 859.248 mln, with long-term liabilities of UAH 179.847 and current liabilities of UAH 389.013 mln.

The ampoule line capacity at Galytchpharm constitutes 200 mln ampoules a year. The company’s modernization project has been in effect since 2004. In order to upgrade its ampoule production capacities, the Arterium Corporation has spent a total of USD 5.01 mln.

Ukraine’s Parliament has taken a decision to restrict TV advertising of drugs, medical equipment, methods of preventing medical problems, diagnostics, healing and rehabilitation, as well as all medical services.

Ukraine’s merchandise deficit increased in October by USD 1.79 bln. Therefore, the merchandise deficit in January-October 2008 reached USD 16.07 bln, compared to USD 14.28 bln in January-September 2008.

President Viktor Yuschenko has cancelled the Cabinet of Ministers Resolution #955 from November 17 titled “About measures for stabilizing the prices of pharmaceuticals”.

“Drugstores and pharmaceutical wholesalers are asking Viktor Yuschenko to cancel markup ceilings for drugs,” stated Vasily Dudarchuk, Vice-President of Ukrainian Pharmaceutical Association.

BM Bank, the holder of Kyivmedpreparat’s three-year bonds, is planning to sue to the local court regarding the case of Kyivmedpreparat and its underwriter LLC “Arta Zennie Bumagi” over a bond buyout.

A survey by the Polish research group PMR (www.pmrpublications.com) indicates that Ukraine`s pharmaceutical market will witness a growth by up to 25% per year to reach a value of USD 5.7 bln in 2010. The survey was published on mid. October.

In September, the amount of pharmaceuticals imported into Ukraine increased by 46% or USD 75 mln YoY. As well, imports increased by 21% MoM.