The pharmaceutical supply chain in Ukraine has become increasingly complex, with almost 1.3 billion of medicine packs, incl. generic drugs, moving around the country in 2013. Same year, the pharmaceutical market in Ukraine (sales through pharmacies and public procurement of medicines) increased by approximately UAH 4 billion to a record of UAH 36 billion. Its fragmentation have resulted in a decreased transparency of the supply chain, and an increase in the difficulties to track and trace medicines. In addition, recent cases relating to counterfeit medicines, also known issues in the public procurement of one, have shown that integrity of the pharmaceutical market in Ukraine is at a high risk.
Against this background, national requirements governing the public procurement of medicines in the autumn 2014 became so critical, that came into attention of the Prime Minister of Ukraine, thus radical changes, even they does not have to be done rapidly, are expected in the market.
Ill patients with life-threatening and serious diseases are heavily impacted by this situation in the market, as they must be able to get their life-saving medicines incl. generic drugs with no shortages or other surprises which exactly shorten their lives’ quality and longevity. It has therefore become clear that Ukraine became the second largest country all over Europe based on the cancer spread rate, so the issues above stated has become essential. Over the last 5 years, the incidence of cancer has increased dramatically in Ukraine. Experts predict that by 2020 the number of patients will increase even more. Now each year, doctors are registered in oncologic dispensary more than one million Ukrainians adults. Each year, doctors diagnose cancer in about one thousand of children.
On this view, we have decided to co-invest in development of the project relating to the oncology generic drugs supplies made in India. Nowadays, not too many patients in Ukraine are ready to buy an expensive brand-name drugs simply because of lack of money in their wallets. When no other treatments are available, a seriously ill patients might survive thanks to the generic drugs.
The Indian pharmaceutical industry is another promising sector of the Indian economy. India holds fourth position in terms of volume and thirteenth position in terms of value of production in pharmaceuticals. It is estimated that by the year 2010, the Indian pharmaceutical industry has the potential to achieve over Rs. 1,00,000 crore in formulations and bulk drug production.
The key to delivering a successful project will be to work together with all parties holding stakes in this way (i.e. Indian manufacturers of the generic drugs, their local wholesalers, governments, Ukraine Authorities, pharmacists, and hospitals) to deliver an adequate legal, political and operational framework to support the integration of a generic drugs at the Ukrainian level, which has the support of the national authorities.
The GroupRikas Investment Group in the development and supply of the niche which belong to the cheaper generic drugs versions of the brand-named medicines. Those generic drugs versions will exactly survive in various diseases through a medical supply manufacturers and health care professionals. We believe that the immense cost of contemporary cancer drugs must be decreased through that way, which will greatly enhance the quality, and most importantly, life expectancy of the patients with life-threatening and serious diseases in Ukraine.