NEW INVESTMENT OPPORTUNITIES IN PHARMACEUTICAL INDUSTRY OF UKRAINE DUE TO THE SPREAD OF CORONAVIRUS DISEASE (COVID-19)

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  Pavlo Osos

Abstract

The subject of this article is the state of investment attractiveness of the pharma-ceutical industry of Ukraine in connection with the spread of coronavirus disease COVID-19. Methodology. The study mainly used systemic and logical ap-proaches. At the same time, the following scientific methods were used in the re-search process: 1) analysis – the risks and benefits of investing in the pharmaceu-tical industry in Ukraine are studied, in particular, the main factors that may af-fect its further development are identified; 2) deduction – the general state of op-eration of the pharmaceutical industry and important details that form a general picture of the industry are indicated; 3) induction – considerable attention has been paid to some important steps necessary for the further development of the pharmaceutical industry; 4) generalization – common features of the processes occurring at the national and supranational level in the functioning of the phar-maceutical industry have been established; 5) others. The aim of this article is to identify new opportunities, prospects and risks for investment in the pharmaceu-tical industry of Ukraine in connection with the spread of coronavirus disease COVID-19 (hereinafter COVID-19). The results of the study demonstrate the significant potential of the pharmaceutical industry in Ukraine for its further transformation: high employment in the industry, a large number of production facilities, compliance with international standards, etc. Conclusion. The pharma-ceutical industry of Ukraine is one of the most profitable sectors of the national economy and has a leading position on the index of capital investment. Despite the economic crisis, the industry's focus on innovation is driving growth, particu-larly in the pharmaceutical market. 48% of pharmaceutical manufacturers pay special attention to the study of new technologies and equipment. For further de-velopment of the domestic pharmaceutical industry, Ukraine needs an effective strategy for implementing the stages of vaccine production on its territory due to the emergence of new diseases. Production of such vaccines will help support Ukraine's participation in competition in the promising segment of the global pharmaceutical market. In order to attract investment in the development of this area, the Ukrainian government needs to ensure the effective functioning of public authorities and, in particular, to ensure the predictability of the economic and po-litical situation. Given the positive experience of foreign countries (USA, India and Kazakhstan) in cooperation in the format of public-private partnerships (hereinafter – PPP), the introduction and further use of this mechanism of coop-eration in the pharmaceutical industry of Ukraine will have a positive impact on its investment attractiveness. Effective actions of the government of Ukraine, aimed at improving the welfare of citizens will serve as a guarantee of preventing the growth of counterfeit pharmaceutical products on the domestic market.

How to Cite

Osos, P. (2021). NEW INVESTMENT OPPORTUNITIES IN PHARMACEUTICAL INDUSTRY OF UKRAINE DUE TO THE SPREAD OF CORONAVIRUS DISEASE (COVID-19). Baltic Journal of Economic Studies, 7(5), 153-158. https://doi.org/10.30525/2256-0742/2021-7-5-153-158
Article views: 339 | PDF Downloads: 185

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Keywords

pharmaceutical industry, public-private partnership, investment attractiveness, investment risks, national economy, СOVID-19

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