March 2026
1. Brief Overview of Recent Legislative Changes
Pricing Regulation and Restrictions on Market Practices
The year 2025 was marked by large-scale legislative changes in the regulation of the Ukrainian pharmaceutical market. State authorities initiated and implemented a number of decisions aimed at updating approaches to pricing of medicines, regulating the provision of marketing and other services related to the sale of medicines to end consumers, introducing restrictions on manufacturers and importers, according to which they cannot supply more than 20% of a particular medicinal product from last year's turnover of that medicinal product to a single business entity, as well as regulating the promotion of medicinal products. All these changes are shaping new rules for doing business.
Changes in Retail Distribution of Medicines
The beginning of 2026 marked the continuation of these regulatory transformations. In particular, from March 2026, the sale of OTC medicines through petrol stations was permitted. Furthermore, pharmacies operating within hospitals and other healthcare facilities are required to sell only the three lowest-priced medicines listed in the National Price Catalogue.
Institutional Reform of the Pharmaceutical Regulatory System
Additionally, the Ukrainian government initiated institutional reforms in the pharmaceutical sector, including the establishment of the Ukrainian Pharmaceutical Agency, which is expected to become the single national regulator in 2027. The creation of this body is also linked to Ukraine’s commitments within the framework of its European integration.
2. The Activity of the Antimonopoly Committee of Ukraine in the Pharmaceutical Market
Recent enforcement activities of the Antimonopoly Committee of Ukraine ("AMC") only confirm that the authority is actively exercising control over the pharmaceutical markets.
A Record-Breaking Fine of EUR 100 million in the Ukrainian Pharmaceutical Market
A striking example of the targeted work of the AMC was the decision under which two largest pharmaceutical distributors, namely the limited liability company ‘BaDM’ and the joint Ukrainian-Estonian enterprise in the form of a limited liability company ‘Optima-Farm, LTD’, were fined a record amount for the pharmaceutical market of EUR 100 million for fixing prices.
According to the AMC, both distributors, during a period from March 2020 to December 2023, simultaneously or with a slight time interval, set identical and/or similar sales prices for a number of medicines. Both parties are appealing the committee's decision in court.
Five Largest Pharmacy Chains – on Radar of the AMC
On 2 October 2025, the AMC initiated a case regarding alleged anticompetitive concerted practices amongst the five largest pharmacy chains in Ukraine. According to the AMC, these practices may have restricted market access for certain pharmaceutical manufacturers. The pharmacy chains under investigation collectively account for 64% of pharmaceuticals retail turnover and own 42% of all pharmacy outlets.
The AMC data suggests that the termination of marketing agreements between Ukrainian manufacturers and these pharmacy chains allegedly has led to reductions in the shelf presence of certain products, despite stable consumer demand. This raises concerns about the nature of the chains' conduct and potential coordination.
The AMC Sector Inquiry into the Pharmaceutical Markets
The AMC is conducting additional comprehensive research into the pharmaceutical markets. This study is aimed at analysing the pricing mechanisms for the 140 most popular medicines and covers all stages of the sales chain – from the manufacturer to the end consumer (‘manufacturer-distributor-pharmacy-consumer’).
In addition, the AMC has strengthened its control over compliance with legislation on unfair competition, in particular with regard to advertising materials for dietary supplements. During 2025, the AMC opened nine cases involving signs of violations of the relevant legislation.
At the same time, the AMC systematically monitors the public procurement market. In 2024 alone, more than two thousand decisions were made regarding the distortion of tender results, which is twice the number in 2023. This indicates the committee's increased focus on cleansing the market of unfair participants, particularly in the procurement of pharmaceutical products.
3. Broader Implications
The above precedents show that the lack of a systematic assessment of business practices and the compliance of internal documents with the requirements of competition law, both Ukrainian and European, puts the company at risk of significant financial sanctions (fines) and reputational damage.
That is why it is important for the pharmaceutical market players to conduct their activities in accordance with the requirements of Ukrainian legislation and current EU practices and standards.
The implementation and review of internal commercial policies is a key tool, as it not only ensures compliance with legal requirements, but also significantly reduces antitrust risks and increases the efficiency of internal processes.
Therefore, a systematic analysis of activities for compliance with antitrust legislation and the development of policies is a necessary condition for the safe and stable operation of a company in the Ukrainian market under the new regulatory realities.
AUTHORED BY ANTITRUST & COMPETITION PRACTICE
Viacheslav Korchev
Partner
Nataliya Kovalova
Counsel
Yaroslava Liamchenko