The multi-branch chemical sector of Ukraine includes chemical, petrochemical and chemical-pharmaceutic sub-sectors with over 1,600 enterprises and structural units.
This sector in Ukraine produces mineral fertilizers, non-organic acids and soda; synthetic resins, plastic masses, chemical fibre, man-made caoutchouc and threads; and car and motorcycle tires, hoses, and consumer goods. There are 58 pharmaceuticals companies manufacturing drugs in Ukraine, mostly producing lower-priced products, such as generic drugs and vitamins. Two of the countries giants in the Ukrainian pharmaceutical industry, Kyivmedpreparat and Halychpharm received the Ukrainian Government’s approval to merge and form Arterium Corp, which will be involved in the research, marketing and distribution of new medical products.
Nonetheless, pharmaceuticals imported into the country accounted for 62 per cent of the Ukrainian drugs market; therefore, there is a huge market potential for drug manufacturers willing to establish a research, marketing, manufacturing, and distribution in Ukraine. The compound annual growth rate (CAGR) of generic medicines is projected to be 31% in Ukraine in local currency, and by way of comparison, the innovative drug subgroups will develop on average by 14% per annum.