In Ukraine will be produced of up to 50 medicine products from India

In Ukraine will be produced of up to 50 medicine products from India

10.08.2016 News

pharmaAt the pharmaceutical plant “Kusum Pharm” in Sumy by the end of 2019 the production will be doubled, which will allow to produce up to 50 new names of drugs. This will be possible thanks to the implementation of the import substitution program.

This was told reporters co-founder and CEO Rajeev Gupta, during an official visit to Sumy region of Manoj Kumar Bharti, Ambassador of India in Ukraine.

During the visit, the Ambassador got acquainted with “Kusum Pharm” company’s activities and expressed hope for further deepening of cooperation of Indian investors with Ukraine and bilateral relations in general.

“It was the first investment by Indian companies to Ukraine. And the fact that the company plans to expand production, shows that the Sumy region has favorable conditions for business, and the State Administration contributes to this “, – said Manoj Kumar Bharti.

In turn, Nikolai Klochko, the head of the Regional Administration of Sumy said that the area is open to dialogue with investors. “For my part, I can confirm the absolute openness and readiness for dialogue. Moreover, in the region successfully operating company” Kusum Pharm “, and their plans for the future expansion of the company say that foreign investment is reserved.

Not every region can boast such a level of production and quality as this one. And it is our common pride “, – said Nikolai Klochko.

Today LLC “Kusum Pharm”, which occupies the 14th place among the Ukrainian pharmaceutical companies in terms of revenue and has a market share about 2.1%, 50% of the products are produced at the plant in Sumy, 50% – imports from India. “Today we produce about 50 products.

Due to the growing demand for medicines of Ukrainian origin, in 2016, we are expanding warehouses, in 2017 we plan to expand the laboratory and research center, which will develop and introduce more medicines. In 2018 we will begin to expand production capacity, “- said Gupta.

“First by part, but in the future we will move all production of medicines to the Sumy region. Till now the medicines were imported from our factory in India. Expansion of the laboratory will provide an opportunity to bring to market new drugs, which are not present on the Ukrainian market today.” – added Gupta.

The investor said that investments and increase in Ukraine is possible only in case of the real support of business by State.

“In India, we have built a similar plant for 1,5 years. In Ukraine we have built plant for 4 years. The main difficulty is in the bureaucratic procedures of permits. In India to stimulate business we create special export processing closed zones, the land we buy in the period of 2-3 days, but three years later the plant should already be put into operation, otherwise the government takes it away. The company is exempt from tax for five years. Because everyone understands that in this time is a lot of losses. All this contributes to the development of new business. We do not see these conditions  in Ukraine now.”- said Gupta.

Ltd. “Kusum Pharm” – a modern manufacturer of medicines in solid dosage and liquid non-sterile dosage forms for oral administration.

Construction of the plant “Kusum Pharm” started in 2005 after the acquisition of the facility under construction in Sumy. In August 2009, the plant was put into operation.

Read more: Groisman promised to create “entry point” for foreign investment 

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