Farmak

What Farmak does

Farmak (JSC Farmak / Акціонерне товариство «Фармак») is a privately held Ukrainian pharmaceutical manufacturer founded in 1925 and headquartered in Kyiv, with a second production site in Shostka (Sumy region) and a new EU GMP-certified sterile injectables facility in Barberà del Vallès, Spain (ICM Farmak), launched in 2025. The company operates with 3,000+ employees and is the leader of the Ukrainian pharmaceutical market by sales volume since 2010 (Proxima Research), holding approximately 6% domestic market share. Farmak serves healthcare providers, pharmacies, government healthcare programs (including the 'Dostupni liky' reimbursement scheme), military procurement, and international pharmaceutical companies requiring contract manufacturing services across more than 60 countries, including 17 EU member states.

Farmak runs a fully vertically integrated production cycle from synthesis of classical and biotechnological Active Pharmaceutical Ingredients (APIs) to finished dosage forms (tablets, capsules, injectables, creams, ointments, suppositories) across 26 production units. The portfolio exceeds 450 medicinal product names, with up to 20 new launches annually drawn from a development pipeline of approximately 100 complex medicines, supported by an R&D investment of approximately $15M USD per year. Differentiated technical capabilities include an integrated Operational Excellence program (Lean, TPM, 6 Sigma, Kaizen, Hoshin Kanri) recognized with the JIPM TPM Excellence Award in 2026 — the first Ukrainian company to receive this distinction — quality control laboratories certified for 144 pharmacopoeia test methods, and Bolar provision compliance enabling accelerated generic entry at patent expiry.

The business model combines proprietary product sales (prescription, OTC, medical devices, dietary supplements) across Ukraine and export markets, contract manufacturing of APIs and finished dosage forms for international pharmaceutical clients, and government procurement via Prozorro Market at regulated ceiling prices. Go-to-market is hybrid: direct sales via 12+ wholly owned international offices and representative entities (Poland, Czech Republic, Slovakia, UK, UAE, Vietnam, Mexico, Kazakhstan, Uzbekistan, Kyrgyzstan, Moldova, Switzerland), channel partnerships (UNIMED LLC in UAE), and a network of over 300 distribution counterparties in Ukraine. Reinvestment is substantial — up to 90% of profit plowed back into development — and recent capital actions include the 2024 acquisition of Polish pharma Symphar Sp. z o.o., funded by a €22M EBRD loan, plus the 2026 completion of a €5.5M SAP S/4HANA migration.

Name

Farmak

Legal name

JSC Farmak (Акціонерне товариство «Фармак»)

Website

https://farmak.ua

Company type

Private

Founded year

1925

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Farmak is a privately held Ukrainian pharmaceutical manufacturer (founded 1925) producing a portfolio of 450+ medicines across the full production cycle from APIs to finished dosage forms. With 3,000+ employees, it leads Ukraine's pharma market and exports to 60+ countries, including 17 EU member states, while serving healthcare providers, government programs, and international pharma clients via contract manufacturing.

Ownership category

akta.pro rank

Product category

Pharmaceutical Manufacturing

NAICS

Pharmaceutical Preparation Manufacturing (325412), Medicinal and Botanical Manufacturing (325411), Pharmaceutical and Medicine Manufacturing (3254), Drugs and Druggists' Sundries Merchant Wholesalers (424210)

SIC

Pharmaceutical Preparations (2834), Medicinal Chemicals & Botanical Products (2833), Wholesale-Drugs, Proprietaries & Druggists' Sundries (5122)

akta.pro primary industry

Small-Molecule CMC Documentation & Regulatory Support (DMF/CMC) (HLAGAHAM)

akta.pro secondary industries

Compounding Ingredient & API Distributors (Pharma Supply) (HLAIAJAO), Government & Public-Sector Pharmaceutical Supply (Tender/Prime Vendor) (HLAIAJAF), OTC & Consumer Health Distributors (HLAIAJAC)

Keywords

• Pharmaceutical manufacturing
• Active pharmaceutical ingredients
• Prescription generic medicines
• Contract manufacturing services
• Sterile injectable medicines

Headquarters

HQ city

Kyiv

HQ country

Ukraine

HQ region

Europe

Offices15 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Supply Chain, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Pharmaceutical Products Sales: Sale of proprietary pharmaceutical products including prescription medications, OTC drugs, medical devices, and dietary supplements. Portfolio of over 450 medicinal products exported to 60+ countries worldwide including 17 EU member states.
2. Contract Manufacturing: Contract manufacturing services for APIs and finished medicinal products in various dosage forms (liquids, solids, soft forms). Services include full manufacturing cycle, bulk product manufacturing, and packaging. 95 years of API experience.
3. Export Operations: International export of pharmaceutical products to global markets including UK, Germany, UAE, Vietnam, Sudan, Thailand, Iraq, Oman, Mexico, and other countries. Strategic priority area with 17 new products delivered to 8 countries in Q1 2026.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels7 records

Core offering

Farmak develops, manufactures, and markets a portfolio of more than 450 proprietary medicinal products spanning prescription medications, over-the-counter (OTC) drugs, medical devices, and dietary supplements, sold across 60+ countries including 17 EU member states. The company operates a vertically integrated full production cycle from classical and biotechnological Active Pharmaceutical Ingredient (API) synthesis through finished dosage forms (tablets, capsules, injectables, creams, ointments, suppositories), and offers B2B contract manufacturing services for APIs and finished medicinal products to international pharmaceutical partners.

Differentiator

Problem solved

Functional benefit

Products and services

• Oktiniia (Октинія) Antiseptic Medicinal Product Antiseptic medicinal product for external use effective against bacteria, fungi and viruses, designed for mucous membranes, skin, and wound treatment in surgical, dermatological, dental, gynecological, and combustiology settings. Targeted at healthcare providers and patients across multiple specialties in Ukraine.
• Farmak Anti-Anxiety Tranquilizer (Daytime) Prescription daytime tranquilizer for the management of anxiety conditions, sold as a finished medicinal product through pharmacy distribution in Ukraine.
• FENIX (ФЕНІКС) Rivaroxaban Generic Generic rivaroxaban antithrombotic product developed and registered under the Bolar exemption to enable immediate market entry upon originator patent expiration. Targeted at patients requiring anticoagulation therapy in markets served by Farmak.
• Farmak Prescription Pharmaceutical Portfolio Portfolio of more than 450 proprietary prescription medicinal products including ALADIN-FARMAK (antihistamine), ATORVAKOR (statin), and other cardiovascular, gastroenterology, endocrinology, oncology, and critical care medications sold through pharmacy, distributor, and government channels across 60+ countries.
• Farmak OTC Pharmaceutical Portfolio Over-the-counter (OTC) medicinal products marketed directly to consumers through pharmacy and retail channels, covering cough and cold, topical, dermatological, and other self-care therapeutic categories.
• Farmak Medical Devices Medical devices marketed alongside the medicinal product portfolio through pharmacy, distributor, and healthcare provider channels in Ukraine and export markets.
• Farmak Dietary Supplements Dietary supplements marketed alongside the prescription and OTC portfolio through pharmacy, retail, and direct channels for consumer health and wellness use.
• Contract Manufacturing Services (APIs and Finished Dosage Forms) Contract manufacturing services for Active Pharmaceutical Ingredients (APIs) and finished medicinal products in various dosage forms (liquids, solids, soft forms) provided to international pharmaceutical companies. Services include the full manufacturing cycle, bulk product manufacturing, and packaging, leveraging Farmak's 95 years of API experience and EU GMP certification.
• ICM Farmak Sterile Injectables (Spain) EU GMP-certified sterile injectable medicines (Intensive Care Medicines / ICM) produced at the Farmak plant in Barberà del Vallès, Barcelona, Spain, serving hospital and critical care settings across therapeutic specialties including ICU, anesthesiology, cardiology, endocrinology, obstetrics/gynecology, psychiatry, oncology, and immunology.

Quantifiable outcome

• Over 60 countries served with exports
• +6 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Five partnerships are on record, tiered core and minor.

• UNIMED LLCcoreChannel Partner/ Reseller/ Distributor · 25 February 2026Strategic distribution agreement signed during World Health Expo 2026 in Dubai. UNIMED granted distribution rights for selected product launches in UAE. Initial phase focuses on injectable therapies for hospital and critical care settings. Farmak leads sales, marketing, and regulatory coordination; UNIMED handles end-to-end distribution including warehousing and local supply chain.
• Symphar Sp. z o.o.coreStrategic or Co-development Partner · 27 March 2024Farmak acquired Polish pharmaceutical company Symphar to strengthen market share and product focus in EU. Part of international expansion strategy following previous acquisitions in Czech Republic and Slovakia. Regulatory and legal compliance confirmed for the transaction.
• Over 50 international companies and research institutionsminorStrategic or Co-development PartnerScientific partnerships established with over 50 companies and research institutions worldwide for R&D collaboration and development of complex medicines.
• International consultants (pharmaceutical industry)minorImplementation/ SI/ Consulting PartnerEngaged international consultants with pharmaceutical industry experience for Operational Excellence implementation, combining Lean principles with high quality, safety, and regulatory compliance requirements.
• Zhebrivsky Family Charitable FoundationcoreOthersAssociated charitable foundation supporting Ukrainian military, medical facilities, and rehabilitation programs. Donated 1.7 million UAH for medicines for military, 35 million UAH for healthcare projects in 2025, total charitable assistance of 140.6 million UAH. About 150 medical facilities receive foundation support annually. Created new surgical block at Institute of Traumatology and Orthopedics, rehabilitation program for 12 wounded military patients monthly.

Scale indicators19 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Darnitsa: Major Ukrainian pharmaceutical manufacturer with broad generic portfolio and export presence across CIS and CEE. Competes head-to-head with Farmak in the Ukrainian generics market and adjacent export geographies.
• KRKA: Slovenian-based generics and OTC manufacturer with vertically integrated API-to-finished-product operations exporting to 70+ countries. Highly comparable to Farmak in vertical integration, geographic diversification beyond home market, and reliance on CEE and CIS-adjacent geographies.
• Arterium: Ukrainian pharmaceutical group (manufacturer of brands Arterium, Kyivmedpreparat, Halychpharm) producing generics and specialty pharma products domestically and for export. Closest direct domestic peer to Farmak within the Ukrainian market.
• Gedeon Richter: Hungarian pharmaceutical company with proprietary R&D, generic, and biosimilar operations across CEE, Western Europe, and CIS. Comparable to Farmak as a regional pharma champion with API manufacturing, broad therapeutic portfolio, and significant export footprint.
• Polpharma: Poland's largest generics manufacturer with vertically integrated API and finished dosage form production. Directly comparable to Farmak as a CEE-based generics leader; Polpharma also has direct overlap with Farmak's Symphar acquisition footprint in Poland.
• Zentiva: Central and Eastern European generics manufacturer headquartered in Prague with broad portfolio of prescription and OTC pharmaceuticals across multiple dosage forms. Closely comparable to Farmak in product mix, geographic emphasis on CEE, and CDMO-like generics capabilities.

Broad incumbents

• Sandoz: Global generics and biosimilars leader spun out of Novartis, with deep EU and US presence. Comparable to Farmak in finished dosage form generics and injectable manufacturing, but at substantially larger scale and with broader geographic reach.
• Stada Arzneimittel: Established European generics and consumer healthcare company operating across multiple therapeutic areas with EU-wide distribution. Comparable to Farmak in generics-and-OTC mix and EU market focus, but larger and more diversified.
• Teva Pharmaceutical Industries: World's largest generics manufacturer with extensive API and finished dosage form capabilities. Overlaps with Farmak's portfolio strategy of broad generics across multiple therapeutic areas; however, operates at significantly larger scale globally.

Regional players

• Alkaloid: North Macedonian pharmaceutical manufacturer with vertically integrated API and finished dosage production, primarily serving CEE, SEE, and CIS markets. Comparable to Farmak in regional scope, vertical integration, and generics focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries13 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments4 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Farmak