“Olainfarm” has founded five subsidiaries abroad

In addition, in the first three months of this year, “Olainfarm” has submitted five new products for registration in EU markets, the total number of new products in registration reaching 26 medicines in various therapeutic groups.

The registration process for five new medicines has started this year, but by the end of the year it is planned to start this process for at least 16 more, the company predicts. The four new products, covering cardiology, urology and oncology, have also received marketing authorizations in several markets for commercialization this summer.

The most drugs for the treatment of cardiovascular diseases have been submitted for registration – eight preparations. Neurology follows with six drugs and oncology with five new drugs. Three products each submitted for registration in urology and antidiabetic drugs. On the other hand, in the anti-allergy therapeutic group, there is one new preparation in registration, say “Olainfarm” representatives.

“The total planned investment amounts to 100 million euros, which are invested both in the new product portfolio, as well as in the modernization, digitization and expansion of production facilities, so that the company is even more competitive in international markets,” says Jānis Buks, chairman of the board of “Olainfarm”.

It has already been announced that the turnover of the “Olainfarm” concern in 2022 was 120.249 million euros, which is 9.9% more than the year before, while the profit of the concern increased by 66.5% and was 21.161 million euros. At the same time, “Olainfarm” itself worked with a turnover of 113.537 million euros and a profit of 18.143 million euros in 2022. Financial data for 2023 have not yet been made public.

“Olainfarm” deals with finished dosage forms, pharmaceutical preparations and nutritional supplements, as well as with the production of chemicals and active pharmaceutical ingredients. “Olainfarm” was registered in 1991, and its share capital is currently EUR 34,965,315.

The owner of the company is “AB City”, the parent company of AS “Repharm” group. The real beneficiaries of “AB City”, according to the information published on the company’s website, are Josif Apts, Sergejs Kornijenko, Andrejs Leibovičs, Aleksandrs Livšits, Mihails Lurie, Jelena Nikitina, Jānis Oskerko and Roberts Tavievs.