Farmak’s brand value estimated at $94.09 mln in 2021

The brand value of the pharmaceutical company Farmak (Kyiv) in 2021 is estimated at $94.09 million.

According to the company's press release, such an assessment was given to the brand by the experts of the rating of Ukraine's 50 most expensive brands conducted by the Korrespondent magazine.

Farmak ranks 31st in the rating.

When assessing the value of brands, the media outlet took into account advertising activity, analyzed the presence of brands on TV, online and on external media. The communication component and selected reputation indicators were also taken into account.

"The value of a brand is assessed primarily by the level of consumer confidence in the company. The latter is won by the European quality of products and a responsible approach to doing business. Every year we invest up to 95% of our profit in development, modernization of production, researches and technologies. We faithfully pay taxes and provide decent working conditions for our employees. All this forms the value of the Farmak's brand," Farmak Executive Director Volodymyr Kostiuk said.

Farmak is the leader of the Ukrainian pharmaceutical market, produces medicines in all 14 therapeutic groups. Annually, the company introduces to the market about 20 new complex component modern drugs. Currently, there are about 100 drugs in development. The company exports products to more than 25 countries around the world.

Over the past five years, Farmak's investments in the scientific and technical complex, production equipment, and research activities amounted to UAH 3.4 billion.

JSC Farmak is a member of the Association of Manufacturers of Medications of Ukraine (AMMU).

Source: www.en.interfax.com.ua