Great start
Dmytro Shymkiv,
Chairman of the Executive Board of the Management Company Pharmaceutical Firm Darnitsa
Chairman of the Executive Board of the Management Company Pharmaceutical Firm Darnitsa
Please answer two questions.
Which business sector do you consider the most high-tech? I think the first thing that came to your mind was IT. And which industry is the locomotive of the Ukrainian economy? You are likely to say: agriculture. Only the experts who are closely dealing with this industry will give the answer "pharmaceuticals".
There is little talk about pharmaceuticals and biotechnologies in Ukraine, but in the rest of the world it is the opposite. The development of qualitatively new medicines using AI, the search for personalized drugs, anti-aging technologies, telemedicine in a broad sense, vertically integrated solutions for healthcare are global trends for the near future. They are discussed a lot and in detail. And they are not only discussed, but a lot of money is also invested in them. By the way, many IT companies and technology-based venture funds today invest particularly in the direction of healthcare.
The World Economic Forum has published a large study of the competitiveness of countries. It says: 'Healthcare is one of the main pillars of the foundation on which the country's ability to be successful is built'. I would like to remind skeptics in relation to Ukrainian innovations in healthcare about electric welding of soft tissue, prosthetic heart valves, a liquid jet scalpel (by the way, an invention of 2014). Do not forget about the scientists Mr. Gamow from Odessa or Mr. Chargaff from Chernivtsi who made it possible to achieve a breakthrough in the DNA research, Mechnikov's immune system, the Filatov Eye Surgery School, the Amosov School of Cardiac Surgery, etc.
Today, the global pharmaceutical industry is more than $ 1 trillion. Tomorrow, by 2020, it will grow by another half a trillion. And Ukraine is a part of this industry. As in the rest of the world, quality products are produced here, added value is created, research is conducted and modern medicines are developed.
The Ukrainian pharmaceutical market means a steady annual growth, UAH 20 billion of the contribution to the country's GDP by pharmaceutical manufacturers, half a million workplaces in manufacturing and related industries, 115 companies, 90 of which are profitable. This profit provides an opportunity not only to finance the country's budget but also to invest in the creation of new products.
Over time, we will see the consolidation of Ukrainian companies. Combining their efforts, they will receive new resources for growth and development. The possibility of strategic partnership with Ukrainian companies is already being considered by major international players.
Now, the global market opens a unique window of opportunities for Ukrainian pharmaceutical industry. Over the last years, the term of patent duration for original medicines of well-known pharmaceutical brands has been expiring. This allows manufacturing of generics – derivatives of medicines based on the same molecules. The expansion of the generic product line in our market will provide Ukrainians with access to modern, effective and at the same time inexpensive medicines.
I have recently entered the pharmaceutical business. And I was amazed how modern and high-tech it is. I have something to compare with: I worked in different areas and in different countries. Ukrainian pharmaceutical industry is interesting.
Pharmaceutics is a very important growth engine of the innovative component of the Ukrainian economy. Perhaps, not everyone notices this. But admit: how many of you, looking at a huge mobile phone which cost a few thousand dollars in the 90s, suspected that in 20 years every student would have a smartphone in his/her pocket?
Which business sector do you consider the most high-tech? I think the first thing that came to your mind was IT. And which industry is the locomotive of the Ukrainian economy? You are likely to say: agriculture. Only the experts who are closely dealing with this industry will give the answer "pharmaceuticals".
There is little talk about pharmaceuticals and biotechnologies in Ukraine, but in the rest of the world it is the opposite. The development of qualitatively new medicines using AI, the search for personalized drugs, anti-aging technologies, telemedicine in a broad sense, vertically integrated solutions for healthcare are global trends for the near future. They are discussed a lot and in detail. And they are not only discussed, but a lot of money is also invested in them. By the way, many IT companies and technology-based venture funds today invest particularly in the direction of healthcare.
The World Economic Forum has published a large study of the competitiveness of countries. It says: 'Healthcare is one of the main pillars of the foundation on which the country's ability to be successful is built'. I would like to remind skeptics in relation to Ukrainian innovations in healthcare about electric welding of soft tissue, prosthetic heart valves, a liquid jet scalpel (by the way, an invention of 2014). Do not forget about the scientists Mr. Gamow from Odessa or Mr. Chargaff from Chernivtsi who made it possible to achieve a breakthrough in the DNA research, Mechnikov's immune system, the Filatov Eye Surgery School, the Amosov School of Cardiac Surgery, etc.
Today, the global pharmaceutical industry is more than $ 1 trillion. Tomorrow, by 2020, it will grow by another half a trillion. And Ukraine is a part of this industry. As in the rest of the world, quality products are produced here, added value is created, research is conducted and modern medicines are developed.
The Ukrainian pharmaceutical market means a steady annual growth, UAH 20 billion of the contribution to the country's GDP by pharmaceutical manufacturers, half a million workplaces in manufacturing and related industries, 115 companies, 90 of which are profitable. This profit provides an opportunity not only to finance the country's budget but also to invest in the creation of new products.
Over time, we will see the consolidation of Ukrainian companies. Combining their efforts, they will receive new resources for growth and development. The possibility of strategic partnership with Ukrainian companies is already being considered by major international players.
Now, the global market opens a unique window of opportunities for Ukrainian pharmaceutical industry. Over the last years, the term of patent duration for original medicines of well-known pharmaceutical brands has been expiring. This allows manufacturing of generics – derivatives of medicines based on the same molecules. The expansion of the generic product line in our market will provide Ukrainians with access to modern, effective and at the same time inexpensive medicines.
I have recently entered the pharmaceutical business. And I was amazed how modern and high-tech it is. I have something to compare with: I worked in different areas and in different countries. Ukrainian pharmaceutical industry is interesting.
Pharmaceutics is a very important growth engine of the innovative component of the Ukrainian economy. Perhaps, not everyone notices this. But admit: how many of you, looking at a huge mobile phone which cost a few thousand dollars in the 90s, suspected that in 20 years every student would have a smartphone in his/her pocket?