Ukrainian manufacturers continue to cover more than 60% of the country’s needs for medicinal products - the results of Q1

In the first 3 months of 2023 the sales volume of medicinal products in Ukraine reached 217 million packages and almost 32 billion hryvnias. At the same time, despite the drop in sales “in packages”, due to the war, by a quarter compared to the first quarter of last year, Ukrainian manufacturers continue to cover 63% of the country’s needs for medicinal products.

This is revealed by the analysis of quarterly indicators conducted by Proxima Research.

In particular, one of the permanent leaders in the production of drugs in Ukraine, the pharmaceutical company “Darnytsia”, produced almost 36 million packages of drugs in the first 3 months of the current year. Thus, the company’s share on the market in real terms exceeded 12.6% and is twice as big as that of its closest competitor, Farmak, and the share “in money” reached 4.5%.

As analysts note, the Ukrainian pharmaceutical sector also demonstrated greater resilience to inflation and faster pace of its decline in January-March this year. Thus, the inflation rate for medicines and other medical goods decreased by 8%, and the impact of price increases on market indicators was halved.

In addition, despite the military threat, at the beginning of the year, drug manufacturers continued to invest in modernizing the manufacturing facilities, and pushed forward to introduce new technologies. For example, “Darnytsia” announced the commissioning of a new department for preparing and packaging medicines in the solid dosage forms in sachet packages according to the GMP standard.

“The pharmaceutical industry has been and remains strategically important for the Ukrainian economy, which is now constantly sustaining a strength test by a full-scale war with Russia. The stability we have managed to maintain guarantees that Ukrainians will be provided with affordable and high-quality medicines, and the market - with jobs and room for investments,” emphasized Vasyl Hubarets, Director of Corporate Communications of the pharmaceutical company “Darnytsia”.