You're reading: #38 Richest: Volodymyr Zahory, 58

$321 million Married with one son and one daughter Interests: pharmaceuticals

According to analysts at Dragon Capital, Volodymyr Zahory entered the elite club of Ukraine’s 50 richest people in 2009 at the height of the financial crisis.

While other businessmen involved in real estate, banking and retail had their fortunes drop, Zahory, who controls Darnytsia pharmaceutical company, stepped in.

Time has shown that Zahory didn’t get to Ukraine’s top 50 by accident.

The latest rating shows that his fortune more than doubled, which once again proves that pharmaceuticals is one of the most stable businesses, as people never stop buying medicines.

That doesn’t mean that making drugs is a safe and cozy business to be in.

Having defended his company against raiders’ attacks, he now has to deal with a new problem.

After an almost six-year court battle with his main rival Farmak, Zahory lost the rights to manufacture Korvalol – one of Ukraine’s most popular medicines, the number one choice for almost all the nation’s elderly in case of heart problems.

The negative ruling means that Darnytsia will have to invest heavily in marketing a competitor brand, Darvilol, hoping to win the hearts of at least some of Korvalol’s elderly users.

But shrewd businessman Zahory knows better than targeting just one segment of Ukraine’s pharmaceuticals market worth nearly $3 billion a year.

The latest news on Darnytsia’s corporate website announced the start of an online marketing campaign for Darnytsia’s new medicine for hangovers.