EBRD allocates EUR 22 million to Ukraine's Farmak for expansion in Poland

The European Bank for Reconstruction and Development (EBRD) granted a loan of EUR 22 million to the Ukrainian pharmaceutical manufacturer Farmak to expand its operations in Poland and update its information systems, according to the EBRD press release.

The money is planned to be used to support the purchase of a Polish pharmaceutical company by the Farmak group and the modernization of its IT infrastructure.

The EBRD emphasizes that the strategic acquisition in Poland allows Farmak to diversify its product portfolio and increase export capacity.

At the end of March, the international office of Farmak completed the acquisition of 100% of the Polish pharmaceutical marketing company Symphar. With this acquisition, Farmak increases its market share and strengthens its position in the diabetology, nervous system and women's health segments in the EU.

The acquisition of Symphar is the next step after the acquisition of similar companies in the Czech Republic and Slovakia last June. These companies have marketing services, cooperate with the largest pharmacy chains and key drug distributors in both countries.

Earlier, Farmak stated that the expansion of business in the markets of EU countries is part of the strategy of transformation into an international company.

Farmak has 10 commercial offices located in various regions of the world, including Ukraine, Poland, the Czech Republic, Slovakia, Central Asia, Asia Pacific, the Middle East and Western Europe.