HTTP/1.1 200 OK Cache-Control: no-store, no-cache, must-revalidate, post-check=0, pre-check=0 Connection: close Date: Thu, 30 Mar 2017 17:15:24 GMT Pragma: no-cache Server: nginx Vary: Accept-Encoding Vary: Accept-Encoding Content-Type: text/html Expires: Thu, 19 Nov 1981 08:52:00 GMT Client-Date: Thu, 30 Mar 2017 17:15:24 GMT Client-Peer: 89.184.73.29:80 Client-Response-Num: 1 Client-Transfer-Encoding: chunked Link: ; rel="stylesheet"; type="text/css" Set-Cookie: PHPSESSID=81dbd0ae028bc86d19372beff3c69d0b; path=/ Title: The Ukrainian Journal of Business Law X-Meta-Author: Boris Cherepaha, boris@cherepaha.org.ua X-Meta-Copyright: Yuridicheskaya Practika X-Meta-Description: The latest business, legal and economic publications, news and researches for Ukrainian and foreign business community X-Meta-Keywords: Business magazine, business, law, businessman, economy, business news, laws in English, law firm, foreigners, lawyer, EBA, European Business Association, ACC, American Chamber of Commerce, advocate, economist, Ukrainian law, Ukraine, capital markets, real estate, international trade, civil law, commercial law, European integration, investment, doing business in Ukraine, competitiveness, news, áèçíåñ, ïðåäïðèíèìàòåëüñòâî, ïðàâî, çàêîíû íà àíãëèéñêîì, ýêîíîìèêà Óêðàèíû, áèçíåñ â Óêðàèíå, íîâîñòè, þðèñò, çàêîí, èíâåñòèöèè, àäâîêàò, ðûíêè êàïèòàëîâ, èíòåëëåêòóàëüíàÿ ñîáñòâåííîñòü, íåäâèæèìîñòü, Åâðîïåéñêèé ñîþç, èíòåãðàöèÿ, ÅÁÀ, Åâðîïåéñêàÿ áèçíåñ Àññîöèàöèÿ, Àìåðèêàíñêàÿ òîðãîâàÿ ïàëàòà, áàíê, þðèäè÷åñêèå óñëóãè [http://www.portmone.com.ua/v2/ru/services/periodicals/2533/] Counse link ANTIKA Law Firm 12, Khreshchatyk street, 2-nd floor, Kyiv , 01001 , Ukraine Phone: +38 (044) 390 09 20 Fax: +38 (044) 390 09 21 office@antikalaw.com.ua www.antikalaw.com.ua/en Arzinger 75, Zhylyanska Street., 5th floor, Kyiv , 01032 , Ukraine Phone: +38 (044) 390 55 33 Fax: +38 (044) 390 55 40 mail@arzinger.ua www.arzinger.ua Asters Leonardo Business Center, 14th floor, 19-21 Bohdana Khmelnytskoho St., Kyiv , 01030 , Ukraine Phone: +380 44 230 6000 Fax: +380 44 230 6001 info@asterslaw.com www.asterslaw.com DLF attorneys-at-law Torus Business Centre, 17d Hlybochytska Street, Kyiv , 04050 , Ukraine Phone: +380 44 384 24 54 Fax: +380 44 384 24 55 info@dlf.ua www.dlf.ua ECOVIS Bondar & Bondar Law Bureau 3 Rognidyns'ka street, office 10, Kyiv , 01004 , Ukraine Phone: +38 (044) 537 09 10 Fax: +38 (044) 537 09 10 Kyiv-law@ecovis.com www.ecovis.com/ua Gvozdiy & Oberkovych 19B Instytutska Street, Office 29, Kyiv , 01021 , Ukraine Phone: +38 (044) 581 12 20 Phone: +38 (044) 581 12 21 Fax: +38 (044) 581 12 22 info@golaw.ua www.golaw.ua Hincker et associes Law Firm 18 avenue de la Marseillaise, Strasbourg , 67000 , FRANCE Phone: +33 (0) 388 15 14 26 Fax: +38 (0) 388 15 19 85 Hincker@hincker-associes.com http://www.hincker-associes.com/ru Ilyashev & Partners 11 Kudryavska Str, Kyiv , 04053 , Ukraine Phone: +38 (044) 494 19 19 Fax: +38 (044) 494 19 99 office@attorneys.ua www.attorneys.ua International law firm Integrites 15-B Borysohlibska St., Kyiv , 04070 , Ukraine Phone: +380�(44) 391 38 53 Fax: +380�(44) 391 38 54 pr@integrites.com www.integrites.com Inyurpolis law firm (ILF) 14-A �Skrypnyka Street, Kharkov , 61057 , Ukraine Phone: +38�(057)�728 00 00 Fax: +38�(057)�714 06 28 office@ilf-ua.com www.ilf-ua.com Konnov & Sozanovsky 23 Shota Rustaveli Street, Suite 3, Kiev , 01019 , Ukraine Phone: +380 (0) 44 490-5400 Fax: +380 (0) 44 490-5490 info@konnov.com www.konnov.com KUSHNIR, YAKYMYAK & PARTNERS 19-B Instytutska Street, Suite 40, Kyiv , 01021 , Ukraine Phone: +380 44 253 5939 Fax: +380 44 253 5940 kypartners@kypartners.com www.kypartners.com LCF Law Group 47 Volodymyrska street, Office 3, Kyiv , 01034 , Ukraine Phone: +38 (044) 455 88 87 Fax: +38 (044) 502 55 23 info@lcfgroup.com.ua www.lcfgroup.com.ua/en/ Misechko & Partners 76B Volodymyrska Street, Office 7, Kyiv , 01033 , Ukraine Phone: +380 44 279 3943 Fax: +380 44 287 5480 office@misechko.com.ua misechko.com.ua Sayenko Kharenko 10 Muzeyny Provulok, 7th floor, Kyiv , 01001 , Ukraine Phone: +380 44 499 6000 Fax: +380 44 499 6250 info@sk.ua www.sk.ua S.T. Partners 61/11 Volodymyrska Street, Kyiv , 01033 , Ukraine Phone: +380 44 234 4097 Fax: +380 44 289 9850 info@stpartners.com.ua www.stpartners.com.ua LATEST NEWS March 30, 2017 Redcliffe Partners supported EBRD in the launch of a renewable energy generation plant Redcliffe Partners acted as a legal adviser to EBRD in connection with an EUR 3.3 million financing of an Aquanova Development LLC loan facility for the construction of a small hydro power plant, Nyzhniy Bystryi, with a generation capacity of 1.7… March 23, 2017 Valery Fedichin - partner of Poberezhnyuk and Partners Law Group Partnership structure of Poberezhnyuk and Partners Law Group added Valeriy Fedichin, who is a practicing attorney-at-law for more than 25 years, who specializes in international transactions , including the use of English law, i… Seminar on Intellectual Property On 16-17 March 2017 the Polish, the German and the French Groups of AIPPI, with the participation of the AIPPI Bureau, have organized a joint seminar on intellectual property related issues. The seminar took place in Warsaw (Poland). More over th… Read more news CURRENT ISSUE ( March 2017 ) In focus – Pharmaceuticals & Healthcare Given the sharp depreciation in the Ukrainian national currency, the medicines market� has been set back in nominal US-dollar terms by 5 years. However, the market is demonstrating significant growth in Ukrainian hryvnya terms. Basically, domestic pharmaceutical producers increased their share of the retail medicines market. As a result, we now observe a stepping up in promotion and advertising to facilitate growth in sales. At the same time, public demand for lower-cost treatment is obviously not a fundamental advantage for sustainable growth. Foreign market players appear to react and compete with a new range,� innovation capacities and a socially responsible approach towards business. Expert Opinion Down to Earth Healthcare Reform Olena Khytrova The end of 2016 became the turning point for the healthcare reform after the government approved its funding concept. The concept revolves around the future National Healthcare Service of Ukraine (NHSU), which will purchase medical services in the amount guaranteed by the state, paying directly to clinics or doctor entrepreneurs per patient (or under the system of diagnosis-related groups (DRG) at secondary level). The process will use a database on patients, their doctors and treatment, allowing for instant exchange of information between all parties and cutting down on paperwork. After the reform, the Ukrainian healthcare market will adhere to the doctrines of �patients equal money�, �free choice of doctors�, �accessible and comprehensive medical treatment� and �higher efficiency�. We�ll see how those precepts will actually work in the new environment. In Re Review of Legal Regulation of Pharma Market of 2016. Outcomes in 2017 Alexander Bondar, Zoia Zamikhovska At the beginning of 2017 our company ran a survey among clients, mostly international pharmaceutical companies and their representative offices in Ukraine, to define the main challenges of the pharmaceutical market in Ukraine of 2016. As a result, the current economic situation, low level of consumers paying capacity, currency risks, corruption and instability of the law were specified as the biggest threats on the pharmaceutical market. Basically, the last one will be the object of this article. Pharmaceutical regulatory has probably been the shakiest legal field of recent times. At the end of 2016 key players of the pharmaceutical market, professional organizations and state authorities were challenged by a new piece of adopted legislation regarding the new mechanism of the state regulation of prices and implementation of the reimbursement of medicines. Antitrust Challenges in Pharma Distribution: A New Era Tetiana Vovk, Tetiana Subbotina The Pharma business has historically been on the radar of the antitrust authorities. Although free competition plays crucial role in ensuring that patients receive better products at affordable prices, the industry is heavily regulated across the world. This is explained, according to the WHO, amongst other things, �by serious consequences, including injury or death, which can result from the lack or misuse of medications and by impossibility for the patient to determine product quality�. Still, freedom of market behavior should not be limited beyond what is absolutely necessary to protect the public interest and policy makers need to aim for ideal balance in this regard. Pharmaceutical Market Definition in Competition Cases: Ukrainian and European Experience Serhiy Shershun, Ivanna Gumenna It is crucial for the rapidly developing pharmaceutical market to comply with competition law requirements. Currently, the European Commission and national competition authorities are actively examining pharmaceutical markets for their compliance with competition rules. Effective competition on the pharmaceutical market is one of the priority goals of the Antimonopoly Committee of Ukraine. In 2016, the AMCU adopted a number of decisions on violation of legislation on protection of economic competition by international pharmaceutical manufacturers and distributors. As a result, in November 2016 the AMCU issued a report on the results of the pharmaceutical market study, which highlights the main grey zones on pharmaceutical market and directions for the competition strengthening. Moreover, the AMCU�s officials announced that the study into the pharmaceutical market continues in 2017. News Deals Automated Systems Holdings Limited acquired Grid Dynamics Inc. DTEK Energy long-term restructuring AEQUO advised Epicentr Group AEQUO � legal counsel to Sberbank AVELLUM advised Deutsche Beteiligungs AG Debut USD 500 million eurobond issue by Kernel � Cases Ukraine won lawsuit on hazardous waste collection Deutsche Bank pays penalty for scheme resulting in USD 10 billion withdrawal from Russia AMCU investigates case against the Ministry of Justice of Ukraine Samsung chief arrested in corruption case Draft Draft law on company�s activities and financial services Draft law on mandatory redemption and sale of shares Draft law on telecom service providers access to infrastructure New rules to allow operators to disconnect malicious phone subscribers Law Digest Agreement with European Organization for Justice ratified Control over payment systems stepped up Ukraine and USA signed FATCA agreement � Biznews Capital Markets Moody�s pays penalty for false ratings English Court approved Metinvest obligations restructuring Cryptocurrency Bitcoin acknowledged as official means of payment in Japan AMCU AMCU fined Kyivenergo Trade Policy Ukraine filed suit against Russia to WTO on transit restrictions Canadian Parliament ratified agreement on free trade area with Ukraine Chamber News Ukraine continues to have high indicators in terms of counterfeiting and piracy: International IP Index On 8 February The U.S. Chamber of Commerce released the fifth edition of International IP Index “The Roots of Innovation”. The American Chamber of Commerce in Ukraine believes that this publication is extremely timely, as it shows that countries of every region, size, and income level are increasingly investing in IP infrastructure as a tool for development, a stimulus for jobs and economic growth, a catalyst for domestic innovation and creativity. UBA News Official Opening of Tomorrow�s Lawyer Program On 17 February 2017 the official opening of the Tomorrow’s Lawyer program took place. It is the first nationwide professional development program for lawyers. The aim of the program, its implementation methods and the key elements were revealed to the public. Participants of the program had the opportunity to meet each other and the developers, trainers and experts of the training course and learn about the experience of cooperation between the legal communities of Ukraine and Canada in the field of professional development. Recent trends in land turnover The Ukrainian Bar Association Committees on Agricultural Law and Real Estate & Construction Law held a meeting on 23 February dedicated to recent legislative initiatives in the sphere of agricultural land turnover. Cover Story Exceptional Attention Ukrainian regulators are undergoing a challenging period of pushing reforms from inside out and developing an enforcement culture. The country�s competition authority has become more transparent in its activities and many groundbreaking and long-expected changes are being launched. The pharmaceutical market is a subject of precise attention of the competition authorities worldwide, and Ukraine is no exception. Meanwhile, law firms practising antitrust and competition are becoming more industry-focused, and the pharmaceutical business seeks antitrust compliance solutions with due account of the sector specifics and global enforcement trends in this area. The dynamic Ukrainian outfit Redcliffe Partners has strengthened its competition practice team with ambitious dedicated practitioners. We�ve met the recently assembled team consisting of Anastasia Usova, counsel, and associates Yulia Eismont and Kateryna Chumak, to find out their practice development plans and share views on antitrust enforcement in the pharmaceutical sector both in Ukraine and globally. Case Law Reimbursement of Expenses in Traffic Accidents Iuliia Tatik Every driver likely knows about the compulsory insurance of their civil liability. According to the Law of Ukraine No. 1961-IV of 1 July 2004 On Compulsory Insurance of Civil Liability of Owners of Land Vehicles (hereinafter � the Law), in particular the damage caused to the victim in an accident, including reimbursement caused by medical treatment, temporary disability, permanent loss of working ability of a third injured person, compensation for moral damage, that� may consist of physical pain and suffering that a victim, an individual, obtained due to injury or other health damages, as well as compensation in case of the death, is refundable. In connection with the treatment of a victim the reasonable costs related to delivery, placement, diagnosis, treatment and rehabilitation of the victim, medical care and treatment at home, buying medicines shall be reimbursed. And the expenses must be documented. Crux Legislative Update During the last month the UJBL editorial team has monitored recently adopted legislation and new initiatives. This month we asked for comment on draft laws on Amending the Criminal Procedural Code of Ukraine , On Anti-corruption Courts, a portion of changes to corporate legislation. We have examined the Intergovernmental Agreement On tax requirements for foreign accounts (FATCA) between Ukraine and the USA, and the recently ratified Agreement on Cooperation between Ukraine and Eurojust. � Subscribe Subscribe to The Ukrainian Journal of Business Law right now and enjoy the most relevant issues on doing business in Ukraine on your device or in print. All this for just USD 9.99 a month. Sign In E-mail Password Remember Me Reset password Subscribe/Register HOME CURRENT ISSUE SUBSCRIBE & ORDER NEWS ANALYTICS SPONSORSHIP & ADVERTISING GET PUBLISHED EDITORIAL CALENDAR ARCHIVE CONTACT HOME CURRENT ISSUE SUBSCRIBE & ORDER NEWS ADVERTISE GET PUBLISHED EDITORIAL CALENDAR ARCHIVE CONTACT BANNER EXCHANGE Copyright © 2003-2017 by Yuridicheskaya Practika Publishing. All rights reserved.