The Ukrainian pharmaceutical market continues to recover after the discovery of the largest anti-competitive conspiracy in recent years. Its main participants were distributors LLC "BaDM" and JV LLC "Optima-Pharm, LTD", which together control over 85% of the wholesale segment of medicines. According to the Antimonopoly Committee, in 2020-2023, the companies synchronously inflated prices for critically important drugs - "Spazmalgon", "Evkazoline Aqua", "Bifren", "Neyrokson" and others. These are dozens of names of drugs, on which suppliers received superprofits even during a full-scale war.
Only in July 2025 did the AMCU make a decision, imposing record fines on the conspirators — over UAH 4.8 billion, of which UAH 2.37 billion fell to BaDM. However, instead of complying with the regulator’s decision, the company resorted to public pressure, manipulation, and legal blocking.
Acting CEO of BaDM, Dmytro Babenko, stated that on December 4, the company “was unable to make scheduled payments to suppliers” due to the forced collection of a fine. This statement was disseminated as a signal of an alleged threat to stop the import of medicines.
At the same time, the Kyiv Commercial Court suspended the execution of the AMCU decision, suspending the rule on the non-suspension of Resolution No. 370-r. In fact, this allowed BaDM to avoid the immediate collection of billions of hryvnias.
The company argues that the withdrawal of funds will “take money out of circulation” for at least 120 days, which will allegedly lead to a halt in imports and logistics. Thus, BaDM is using patients, importers, and the threat of a shortage of medicines as a tool for public blackmail.
Sources in regulatory authorities claim that the investigation into the pharmaceutical cartel was artificially delayed for years. Iryna Vereshchuk, who as deputy head of the Office of the Prosecutor General, oversaw areas related to regulatory policy, had a significant influence on this. It was during her period of responsibility:
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the AMCU investigation was effectively at a standstill;
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key decisions that could stop the violations were blocked or postponed;
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The committee demonstrated demonstrative passivity regarding the 85 percent monopolization of the market.
According to the interlocutors, a similar position was held by the then Chairman of the Antimonopoly Committee of Ukraine, Pavlo Kyrylenko, who did not show initiative in breaking anti-competitive practices in the pharmaceutical market.
Distributor manipulations and court blocking of fines jeopardize the implementation of the regulator's decision and in fact allow former cartel participants to continue to control prices for a significant portion of socially important medicines.
While the state struggles with the consequences of the largest pharmaceutical conspiracy, patients remain hostage to a market where two companies have for years determined how much Ukrainians will pay for basic medicines.
