EBRD gives 42-mln-euro loan to Ukraine's Farmak to buy company in Poland

MOSCOW. April 9 (Interfax) - The European Bank for Reconstruction and Development (EBRD) has given a 42-million-euro loan to the Kiev-based company Farmak to buy a pharmaceutical marketing company in Poland and to fund M&A deals in other countries.

Besides closed and planned deals, the money will be invested in IT systems in Ukraine, Ukrainian media said with the reference to the EBRD.

As reported, Farmak acquired the Symphar pharmaceutical marketing company headquartered in Warsaw at the end of March. This is part of the international expansion strategy, which included the procurement of companies in Czechia and Slovakia in 2023.

Symphar is a Polish pharmaceutical marketing company working with more than 50 products in the field of dieting, gynecology, psychiatry and neurology. It posted over 22-million-euro revenue in 2023.

In 2022, the EBRD gave a 20-million-euro loan to Farmak for replenishing working capital.

Farmak has ten commercial offices strategically positioned in various parts of the world, including Ukraine, Poland, Czechia, Slovakia, Central Asia, the Asia Pacific region, the Middle East, and Western Europe.

Farmak is the leader of the Ukrainian pharmaceutical market in monetary terms. It makes drugs in all 14 therapeutic categories, including cold-relief, endocrinology, gastroenterology, cardiology, and neurology.

Every year the company introduces about 20 new complex modern drugs to the market. There are currently about 100 drugs in development. Farmak products are exported to more than 50 countries, including France, Switzerland, Germany, Great Britain, Mexico, Australia, Hong Kong, Vietnam, UAE, etc.