During the war, many companies managed to maintain their positions not only in the domestic market but also in foreign markets. Some have discovered new opportunities. In what direction is your company moving?
Over the past year, we have been working on changing our business model and setting up internal processes related to this, as we have lost our own production. It was a real challenge for us because for 30 years the company had been operating at its own facilities and positioned itself as a production company. I am sure that we should be proud of how resilient we have proved to be, and despite all the obstacles, we have retained our team, preserved our portfolio of products and continued to develop our expertise. Despite all the difficulties, in 2022 we were able to successfully launch the only domestic thiocolchicoside in injectable form. We also have 6 more launches planned in the near future.
We have lost our own production, but we have very strong expertise in R&D, focusing on innovative approaches and unique forms. This is our focus now. Thanks to our partners, we were able to set up all the processes and resume production of our portfolio quickly enough, amidst the war and uncertainty.
Today, experts are talking about changing trends in the Ukrainian pharmaceutical market, in particular, the growing demand for drugs to treat post-traumatic stress disorder, with further growth in the future of products for the treatment of chronic diseases and diseases of the elderly population. How has your company's product range changed since the beginning of the war? What trends do you observe?
The first task we faced was to restore our portfolio of drugs that we had before the start of the Great War. We had to bring back the medicines that patients need from the defective stock. Therefore, in 2023, we are focusing on this. So far, we have replanished most of the items from the defective stock.
Speaking about the strategic vision for the near future, we choose to work in a targeted manner with certain therapeutic areas. Currently, our top priorities are cardiology, neurology and surgery portfolios. In these areas, we already have a certain reputation and effective drugs. For example, our thiocolchicoside, which I mentioned earlier and which we launched recently, in November 2022, in very difficult conditions, now has almost 12% of the market in packs.
In cardiology, we focus on modern treatment trends and popular combinations. This is reflected in our cardiology portfolio. Our isosorbide dinitrate in spray form has only one analog on the Ukrainian market. We have the most complete line of products based on perindopril and valsartan, including triple combinations, which is very important for doctors to select the right dosage for the treatment of hypertension – from the onset of the disease to resistant hypertension.
Therefore, we focus our attention on the development and introduction of innovative medicines into our portfolio, launching medicines that have proven to be effective in other countries and are part of the global treatment standards, but have not yet become popular and widely available in Ukraine.
How did your company overcome the logistics crisis to export its drugs and import raw materials and equipment?
Yes, the supply chains have changed a lot and this has become another challenge. We have carefully analyzed all existing contracts and focused on only a few of the most reliable partners – global leaders in the supply of raw materials and packaging materials. Our experts have calculated all possible deviations and scenarios. Meeting exact delivery deadlines is essential in the manufacture of medicines, especially when it comes to contract manufacturing, as we are interconnected with our partners. Each partner production facility has pre-approved calendar plans, and we, for our part, must strictly adhere to all agreed deadlines to ensure timely release of Microkhim products.
What are you most proud of at your company?
Given that we lost production in 2022, I personally, as Managing Director, am most proud of the team and our resilience. We saved the company, quickly refocused on contract manufacturing, and changed our business processes. Despite the uncertainty, in February 2023, Microkhim underwent a large-scale rebranding, which also included a complete change in the packaging of all drugs. We have become more open in our communication, and new talented people have joined the team. Perhaps this is something to be really proud of. We have overcome the most critical moment for a manufacturing company, so we can definitely say that resilience is our advantage. And this is something to be proud of.
How do you develop your team? What exhibitions do you attend?
We have a list of specific events in each area that our employees attend annually to keep abreast of trends, innovations and generally understand where the world is heading. For example, every year a
delegation of our employees attends CPHI. This event brings together more than 100,000 pharmaceutical professionals from around the world and promotes innovation. Exhibitions, conferences, offline and online events that cover all stages from drug development to distribution. This gives us a powerful pool of information and is a source of inspiration for the team.
Most recently, our employees took part in a webinar workshop from STD ("Standards Technology
Development" STD Ltd) aimed at improving professional competencies in pharmacovigilance in planning, developing and submitting a risk management plan (RMP) and a periodically updated drug safety report (PSUR), developing and consolidating practical skills in signal management and their reflection in the PS risk assessment, developing risk minimization measures.
The Marketing Department regularly attends specialized conferences and seminars, and there are many
of them. In June, for example, we attended the Ukrainian Marketing Forum. Soon, we plan to participate
in the Pharma Budget 2024 conference. The team also has a business coach who works with the company's external service employees on a regular basis, enhancing their skills and providing them with relevant tools for work.
In other words, each area has its finger on the pulse in its area of responsibility and is systematically
developing in accordance with its competencies.
Where do you get inspiration for new projects? Would you like to single out a single person who has had the greatest impact?
Now is the time when inspiration comes primarily from the awareness of belonging to a country that is fighting for its future. We, the Ukrainian business, are part of this struggle and must continue to work,
implement new projects and develop, provide jobs and thus contribute to the economy of our
country. We must enter international markets and represent Ukraine with dignity.
