"A Two-Room Apartment in Moscow" and Hundreds of Tons of Medicine Reduced to Ashes: What Links Mindich's Story to Chervonenko's Business

On the night of September 3, 2026, a Russian drone attack destroyed the central distribution warehouse of the “Apteka Dobrogo Dnya” chain. The extent of the damage became known only today, September 8—the company released photos of the warehouse before and after the strike.

The photos show shelves completely filled with medications, and after the attack—a destroyed building and metal structures amid the rubble. According to the company, hundreds of metric tons of medications were destroyed.

Serhiy Hornitsky, Director of Strategic Development and Innovation at “Dobryi Den Pharmacy,” wrote that the company is already reorganizing its logistics in the wake of the attack.

“Running a business in Ukraine today is a daily marathon for survival. When, in an instant, the enemy reduces the fruits of immense labor and life-saving medicines to ashes—it feels as if the ground is falling out from under our feet. But we are gathering our strength to move forward,” he commented.

The destruction of the warehouse, of course, requires no further explanation as to who is responsible for the strike. But the incident itself provided an opportunity to take another look at who owns one of Ukraine’s largest pharmacy chains and what kind of business lies behind the brand familiar to millions of Ukrainians.

Who Is Ihor Chervonenko

“Apteka Dobrogo Dnya” is part of the “Pharmastor” pharmaceutical holding company, whose beneficial owner is businessman Ihor Chervonenko, the brother of former Minister of Transportation and businessman Yevhen Chervonenko.

According to analytical systems, Chervonenko controls “Pharmastor” and a number of affiliated companies. These include legal entities through which the “Apteka Dobrogo Dnya” chain and other pharmacy operators conduct business. “Pharmastor” LLC, in particular, is a business with billions in revenue. In 2024, its revenue amounted to approximately 4.24 billion UAH. At the same time, the holding’s ownership structure is far from as straightforward as that of “Dobrogo Dnya.” A significant portion of the corporate rights is held through the Cypriot company Pharminvest Holdings Limited.

And that is just one legal entity. Chervonenko’s pharmacy business is spread across a large number of companies. Among the affiliated entities are, in particular, “Pharmacy No. 1 Transfarm” LLC, “Biokon” JSC, “Aronia Pharmacy,” “Zirka Pharmaceuticals” LLC, “Iris” MK LLC, “Ram Ruan” LLC, and others.

To the customer, it all looks simple: one chain, one name, one sign. In corporate registries, however, the business is spread across dozens of legal entities. It is precisely this structure that has repeatedly drawn the attention of journalists and law enforcement officials.

“Rat Patents” and Two Billion Hryvnias

In May 2025, criminal case No. 12025100120000127 was opened under Part 3 of Article 209 of the Criminal Code of Ukraine—regarding the legalization of property obtained by criminal means. 

According to investigators, the case involved a scheme exploiting intellectual property rights. Specifically, patents were filed for so-called utility models, including technologies such as ultrasonic rat repellents. Pharmaceutical companies allegedly paid royalties in the millions for the use of these patents.

According to law enforcement officials, more than 2 billion hryvnias may have been siphoned off in this manner through affiliated entities, and the potential budget losses from unpaid income tax were estimated at a minimum of 361 million hryvnias. The case files mention the companies Skil Trade and Kvik Vent, though law enforcement is investigating the activities of a much broader range of legal entities. Law enforcement is examining whether this structure was used to siphon off funds and subsequently launder them.

And this is not the only area in which questions have arisen regarding companies linked to Chervonenko. Various criminal and analytical documents also mention possible violations of tax laws, abuse of official position, and unlawful gain. 

Lobbying and the Pharmacy Business

Another detail in this story is the Ukrainian Pharmacy Professional Association (UPPA), which has also been headed by Ihor Chervonenko for a long time. The association represents the interests of the pharmacy industry and participates in discussions on legislative changes affecting the pharmaceutical market. When the head of a large pharmacy group simultaneously represents the interests of a significant portion of the market before the government, where does the representation of the industry end and the protection of a specific business’s interests begin?

Accusations have already been made in the public sphere regarding possible influence on pharmaceutical market regulators—the Ministry of Health, the State Service of Ukraine on Medicines and Medical Devices, and tax authorities.

Billions in revenue and a profit of 112,000

Special attention should be paid to Pharmastor’s financial statements. According to public records:

• 2023: revenue—approximately 3.69 billion UAH, net profit—9.6 million UAH;
• 2024: revenue—4.24 billion UAH, net profit—approximately 2 million UAH;
• 2025: revenue—about 4.2 billion UAH, net profit—only 112,000 UAH.

In other words, a company with a turnover of over four billion hryvnias officially ended 2025 with a profit that is comparable not to the scale of a pharmacy holding company, but to the financial results of a small business. Given the criminal investigation into possible embezzlement, this financial picture appears somewhat suspicious. Another detail: in June 2025, “Pharmastor” added the production of films and videos to its list of business activities. Why a pharmacy holding company needed such a business classification is unknown, but it’s also intriguing. 

And what does Mindich have to do with this?

Ihor Chervonenko and Timur Mindich have long been closely connected, likely through their shared pharmacy business. More precisely, through the share that Mindich regularly receives from Chervonenko for a service rendered once. Based on this collaboration, everyone later became friends: Mindich, Chervonenko, and the Zuckerman brothers. Specifically, this refers to the very same Cypriot company, Pharminvest Holdings Limited, through which part of the pharmaceutical business’s corporate structure is organized.

Today, it’s impossible to mention Mindich’s name without the phrase “send a little something to Moscow.” Moscow, it seems, “returned the investment” directly to the warehouse full of medicines. Admittedly, this was done without any transfers or bank accounts—simply by destroying hundreds of metric tons of medicine.

Instead of an epilogue

Ihor Chervonenko is not just the owner of a large pharmaceutical business. He faces constant questions regarding ownership structure, financial flows, interactions with other business groups, and possible violations—some of which are already being investigated by law enforcement.

Debris is being cleared from the site of the destroyed warehouse. For a large pharmaceutical company with billions in revenue, a destroyed warehouse is undoubtedly a serious loss. But a large company has insurance, reserves, other warehouses, suppliers, and the ability to reorganize its logistics fairly quickly.

But for a person who simply needs to receive their medication on time, the consequences can be quite different. Behind every box in the destroyed warehouse is a patient who may be waiting for a specific medication—from a common painkiller to drugs without which treatment simply doesn’t work. And who knows—if that two-ton shipment had been diverted not to Moscow but, for example, to the Ukrainian Armed Forces, there would be no talk of a medicine shortage in Ukraine right now. 

As a reminder, the creators of the “Mindichgate” website, which has emerged in the Ukrainian media landscape, have compiled a detailed map of connections to Timur Mindich. About three dozen officials, politicians, and businesspeople: their last names, positions, work contacts, and political roles—everything has been meticulously compiled and made available for public viewing.

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