#06 June 2015

In focus – Life sciences

The challenges of doing business across the spectrum of life sciences evolve globally in leaps and bounds. These are retention of market share, marketing arrangements, patent expiry, IP licensing, generics, unfair competition, strict safety and pricing regulations, product liability, privacy issues. The worlds pharmaceutical leaders spend billions of dollars on R&D, developing strong pharma brands, streamlining and commercializing the science of health...

Expert Opinion

Pricing Rules for Medicinal Products in Ukraine: Current Trends and Challenges

Leonid E. Cherniavskyi

Pricing regulations for medicinal products have always been a confusing sphere of legislation for pharmaceutical companies. It consists of the On Prices and Pricing Act of Ukraine of 21 June 2012, No. 5007-VI and several subordinate acts which establish limits for wholesale and retail markups at commercial and public procurement markets, rules for calculating prices and determining the level of the wholesale price to be used as the basis for markups, lists of medicinal products the prices on which are subject to regulation, etc. For many years now the rules on pricing for medicinal products have been changing several times a year, though experts and business argue that price restrictions set by the government are not efficient and do not reach their goals...

In Re

Pricing Issue, EU and Ukraine in Brief

Pavlo B. Loginov

The issue of the pricing of medicinal products is a very sensitive matter for the Ukrainian state. Recent economic turmoil makes it even more important as the number of socially unprotected people increased together with demand for cheap and qualitative medicinal products. The signing of the Association Agreement with the EU has also brought new obligations and challenges for Ukraine in the whole healthcare sector...

Overcoming Challenges and Managing Risks in Pharmaceutical M&A

Olha O. Demianiuk

The healthcare sector was the most dominant industry in global M&A in 2014. In fact, 2014 was a record-breaking year for M&A in the healthcare sector, with deal values reaching USD363 billion, 94% higher than those in 2013. Of those deals, almost 50% were cross-border transactions in which buyers acquired target companies or assets in countries outside their local markets.

Deals

Deals

Integrites advised EBRD on increased loan to Nadezhda

Egorov Puginsky Afanasiev & Partners Ukraine advised Avito Holding

Europe Virgin Fund Investment in VENBEST Group

Cases

CASES

Court seizes 500 million cubic meters of gas from Ostchem Group

Ericsson sues Apple

Georgia is obliged to pay compensation to beaten demonstrators

Vasil Kisil & Partners represented Multi Veste Ukraine 1

LCF advised SE Progress

Draft

DRAFT

Lower quorum for general meetings

Licensing

Personal income tax

Law Digest

LAW DIGEST:

Related persons

Transactions with public debt

Legislation on ESCOs

List of offshore countries has been amended

Chamber News

CHAMBER NEWS:

New program of Regional Business Development

New rules introduced to natural gas market

UBA News

UBA NEWS:

UBA Committee on International Law and UAIL Joint Round Table

UBA Committee on Media Law and Committee on Pharmaceutical Law Joint Meeting

Biznews

BIZNEWS:

BANKING & FINANCE:

Restructuring of consumer loans in foreign currency

TRADE POLICY:

Russia filed WTO lawsuit against Ukraine and EU regarding duties

OIL & GAS:

Gazprom has decided to start construction of Turkish Stream

M&A:

Archer Daniels Midland Co to buy terminals on the Black Sea

UKRAINE — EU:

Ukraine  receives EUR 1.8 billion of macro-financial support from EC

ANTIMONOPOLY COMMITTEE OF UKRAINE:

Yuri Terentiev appointed Chairman of AMCU

AMCU reveals cartel collusion between retail chains

Cover Story

No WinNo Fee

Crisis is always a period for new opportunities. Many successful businesses have been established in turbulent times and have grown from start-ups to highly competitive market players. The most important thing here is to be ultra-responsive to business demands, to be extra-flexible and innovative in providing professional solutions. Overall, thinking out of the box is really significant now...

Hot Issue

Farewell to Franchising Registration, Long Live Franchising!

Olena O. Vardamatska

Franchising started developing in Ukraine in 1993 when the first pioneer franchising chains (e.g. McDonalds) entered the Ukrainian market. In 2003, 100 franchising chains operated in Ukraine and by 2013 their number had increased to 540.

Let us look at the progress in the legal regulation of franchising in Ukraine. Starting from 1 January 2004, the Commercial and Civil Codes of Ukraine introduced a legal framework for franchising agreements, including mandatory registration of the same...

Argument

Wind of Change: Challenges of the New Era

Evgeniy V. Bessarabov

It is not the strongest or the most intelligent who will survive but those who can best manage change. That was what Charles Robert Darwin established in his evolution theory called On the Origin of Species. And such a business species like lawyers and law firms are no exception. They are even more sensitive to survival through changes as lawyers are rather good professionals but not always good businessmen...

Unfair Terms in Consumer Contracts

Natalia O. Bezkhlibna

As we are living in the era of consumerism, consumer protection issues appear to gain more and more relevance on peoples living landscape. The problem of unfair terms in consumer contracts (as an aspect of consumer rights protection) was raised in the recently signed EU-Ukraine Association Agreement1. The latter provides for overall harmonization of Ukrainian legislation, including regulations on consumer rights protection, with EU law as a part of integration process. Additionally, consumer rights to fair contracts were also part of the 2014 Awareness Raising Campaign in Europe...

Venue

Ukrainian Business Day in Poland

Friendly relations between Ukraine and Poland, including their openness to economic cooperation and signing of the Association Agreement between Ukraine and the European Union, have been a prerequisite for annual international business forums. This idea of the Vice President of the Polish-Ukrainian Chamber of Commerce, managing partner of the International Legal Center EUCON Yaroslav Romanchuk, was supported by the foreign ministries of both countries. The first such event was held on 6 November 2014 in Kiev, and the second the International Forum Ukrainian Business Day in Poland on 14-15 May 2015 in Warsaw...

Legal Awards 2015

Following the well-established tradition of holding the Legal Awards ceremony at the end of spring, Yuridicheskaya Practika Publishing brought together Ukrainian legal society for the ninth ceremony at Premier Palace Hotel in Kiev on 28 May 2015. This year the best law firms and lawyers competed across 30 nominations.

The nomination of applicants lasted till 21 April 2015, while all the nomination forms were considered by the Nomination Commission, which chose the winners via secret ballots...

Crux

Spring Legislative Update

Re-elected in autumn 2014 the Verkhovna Rada of Ukraine (Parliament) actively continues to develop legislative initiatives regarding all spheres of Ukrainian life. In this section editorial staff has involved experts to comment upon certain of them. Our last digest includes, in a large measure, initiatives that touch energy sphere, anti-terrorist operations, banking and advertising spheres...

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