Ukrainian drug maker Farmak buys Polish distributor Symphar

MOSCOW. March 29 (Interfax) - Farmak, Ukraine's largest pharmaceutical company, has acquired Polish drug distributor Symphar.

"As of March 27, 2024, Farmak's International Office has successfully finalized its acquisition of Symphar, becoming the sole owner of the Polish pharmaceutical company," Ukrainian media reported, citing a Farmak press release.

"The acquisition represents a part of Farmak's international expansion strategy "Farmak 2.0: From local to global success". This M&A is an important next step after last year's acquisitions in the Czech Republic and Slovakia. It expands Farmak's market share and strengthens its position in diabetology, nervous systems, and women health segments in the EU," the press release said.

The deal is the "result of a thorough preparation and evaluation of different options in the Polish market," Farmak said. The acquired business "fully complies with the legal requirements and high ethical and corporate standards of Farmak," the company added.

In 2023, Farmak acquired drug marketing companies in the Czech Republic, Slovakia and Ukraine, along with intellectual property rights and trademarks, from UK private equity fund Novator.

Farmak is Ukraine's leading drug manufacturer and exporter. "By developing manufacturing and R&D facilities in Ukraine and Spain, Farmak has reached a strong presence globally," the company's website states. Farmak has 10 commercial offices "strategically positioned around the world, including Ukraine, Poland, the Czech Republic, Slovakia, Central Asia, the Asia Pacific region, the Middle East, and Western Europe."

Symphar Sp. z.o.o. is a pharmaceutical marketing company with an office in Warsaw that works with drugs in the areas of diabetology, gynecology, psychiatry and neurology. Symphar closed 2023 with revenue of over 22 million euros.