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Friday, 19.04.2024, 13:54
Olainfarm pharmaceutical company may start exports to Turkey
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Olainfarm may launch exports to Turkey in the third quarter of this year but it depends on several factors, including completion of the registration procedure for Olainfarm medicines in Turkey.
The registration procedure is nearing completion in respect of the first three products Olainfarm wants to sell in Turkey. Altogether, the company has applied for registration of six products.
Lapins said the registration process got delayed by an attempted coup in Turkey in July last year which disrupted functioning of a number of government agencies, including the Turkish Medicines and Medical Devices Agency.
In 2016, the Olainfarm group achieved a new record-high turnover at EUR 111.2 mln at a 14% rise from 2015, but the group's profit fell 33% y-o-y to EUR 10.1 mln.
Olainfarm makes medicines, food supplements, active pharmaceutical ingredients and chemical substances.
Olainfarm shares are quoted on the Main List of the Nasdaq Riga stock exchange. The company's key owner is its board chairman Valerijs Maligins.
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