Baltic Export, Baltic States – CIS, Latvia, Markets and Companies, Medicine

In 2009, sales continued to grow in those countries where Olainfarm carried out intensified sales stimulation measures. Sales in Russia increased by 33%, in Belarus by 10%, and in Kazakhstan and Azerbaijan by 65%. Meanwhile, Ukraine became the second largest market for the company, with 14% of its total production being sold in that country.

45 Olainfarm products were certified and registered in 13 countries last year, including several new products. Product registration also was carried out in Tadjikistan, Turkmenistan, Poland, Albania, and Australia, and as well as started in Romania and Vietnam.

This year, the company has decided to expand its operations in the Central Asian market, and open an office in Bangkok.

In 2010, Olainfarm plans to maintain the rate of turnover growth achieved in 2009, and to increase profit levels.

As reported, the company's profit in 2009 reached LVL 2.56 million, with a turnover of LVL 22.4 million.

Olainfarm is one of the largest companies in the Baltic States, with 37 years of experience in the production of medicaments, active pharmaceutical ingredients and chemical substances. The company's production is exported to more than 30 countries worldwide, including the Baltic States, Russia, the CIS countries, Scandinavia and Western Europe, the U.S., and Asian countries.