The Antimonopoly Committee of Ukraine (AMCU) has issued substantial fines totaling approximately $115 million (₴4.8 billion) against the country’s two largest pharmaceutical distributors, BaDM LLC and the Ukrainian-Estonian joint venture Optima-Pharm Ltd, for engaging in coordinated anticompetitive conduct. Together, these companies accounted for over 85% of Ukraine’s wholesale pharmaceutical market in 2022–2023.
Following a thorough investigation and a hearing held on Thursday, AMCU levied fines of $57 million (₴2.374 billion) on BaDM LLC and $58 million (₴2.432 billion) on Optima-Pharm Ltd. The penalties are based on findings that, between March 2020 and December 2023, the companies engaged in concerted actions to fix identical or nearly identical retail prices for several widely sold medicines, including Spazmalgon, Evcazoline Aqua, Bifren®, Movinaza®, and Neuroxon®.
According to AMCU, these price alignments were carried out without clear or transparent pricing mechanisms, and lacked any objective economic justification. The Committee’s comprehensive market analysis demonstrated that the companies set markups not based on reasonable business costs but in a manner designed to maintain similar pricing levels and suppress competition.
This collusive behavior effectively eliminated price competition between BaDM and Optima-Pharm, enabling them to preserve and expand their dominant market positions through anti-competitive means rather than merit-based competition. The AMCU noted that such conduct is typically attractive to firms wielding significant market power, as it reduces competitive risks and ensures stable profits.
As a direct result, the entities increased their combined market share by 17% during the period under review. Financially, this translated into a staggering rise in net profits: an 11-fold increase for Optima-Pharm and a 3.5-fold increase for BaDM compared to 2019 figures.
The AMCU’s formal decision cites violations of Ukraine’s Law “On Protection of Economic Competition,” specifically Clause 1 of Article 50 and Part Three of Article 6, which prohibit anticompetitive concerted actions that restrict competition.
The Committee mandated that both BaDM LLC and Optima-Pharm Ltd immediately cease the infringing behavior and comply with competition laws moving forward. AMCU also reaffirmed its ongoing commitment to rigorous oversight of the pharmaceutical sector, a critical market directly impacting consumer welfare and public health.
The investigation was initiated in June 2024 under case number 126-26.13/102-24 and concluded with the issuance of these significant penalties in July 2025.
