The Ukrainian pharmaceutical industry is making remarkable strides towards recovery, as the pace of sales decline in the first half of 2023 has significantly slowed down.
Reports indicate that the sales volume of medicinal products in Ukraine surpassed an impressive 420 million packages over the course of the first six months of 2023. As a result, pharmaceutical sales experienced a modest decrease of only 6.4% compared to the corresponding period in 2022. This is in stark contrast to the substantial 25% decline witnessed during the first quarter. The data suggests a resurgence in pharmaceutical production in Ukraine, as attested by the press service of Darnitsa, a prominent pharmaceutical company, citing findings from Proxima Research.
On a monetary scale, the pharmaceutical industry demonstrated significant growth, with sales volumes reaching a staggering 62.5 billion hryvnias ($1.7 billion). This represents an increase of 11.7 billion hryvnias, or 23% higher than the combined figures for the first two quarters of 2022.
The research findings also highlight the continued dominance of Ukrainian drug manufacturers, who currently hold a substantial 63% market share in terms of “packages” sold.
Despite the ongoing war, pharmaceutical companies are actively introducing new branded medications and expanding the export of Ukrainian drugs to other regions.
Notably, Darnitsa has recently entered the Australian market, underscoring the industry’s commitment to international expansion.
Founded in 1930, Public JSC Pharmaceutical Company Darnitsa has held a leader-ship position in Ukraine’s domestic pharmaceutical production since 1998. The company focuses on cardiology, neurology, and pain management solutions.