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Ukraine needs foreign investment to pharmaceutical sector

Ukraine needs foreign investment to pharmaceutical sectorThe implementation of the imports replacement concept in the Ukrainian pharmaceutical sector is possible with the approval of the strategy for attracting foreign investment, President of the Association Manufactures of Medications of Ukraine (AMMU) Petro Bahriy has said.

"The foreign direct investment attraction concept for the Ukrainian pharmaceutical sector should be drawn up, not the imports replacement concept. Ukrainian pharmaceutical manufacturers can calmly work in close cooperation with foreign partners. Ukrainian patients would win from this, as they would have access to modern drugs and modern technologies," he said during a discussion at the Ukrainian HealthCare Forum 2016.

Bahriy said that investment should be stimulated to achieve this goal.

"Everything what is to be done is to introduce preference, or stimulate investment. There is nothing to worry about. This is done all over the world. Support of local manufacturers and reasonable preferences exist everywhere," he said.

He said that efforts made by pharmaceutical companies in Ukraine to develop the sector should be supported by the state.
"We want to move to Europe. We want to create jobs. This work would have been more effective if it were supported by Ukraine's leaders and the conditions for stable development were created," Bahriy said.
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