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Riga pharmaceutical plant plans 10% growth of sales in 2016

BC, Riga, 25.05.2016.Print version
Latvian pharmaceutical company Rigas Farmaceitiska Fabrika (Riga pharmaceutical plant, Rigas FF) plans to increase its 2016 turnover by 10% by focusing on exports, informs LETA, according to the company’s management report for 2015.

Last year exports accounted for 3.8% of total turnover.

 

This year Rigas FF plans to develop and start selling at least five new products and will also participate in the program of the Latvian Economics Ministry and the European Regional Development Fund (ERDF) supporting development of new products and technologies.

 

The company’s turnover in 2015 reached EUR 3.35 million, rising 60% from 2014, and its profit soared 3.5 times year-on-year to EUR 70,491.

 

Last year Rigas FF registered five new products and participated in the trade fairs, for example, Vitafood in Geneva and CPhI in Madrid to boost its exports.

 

The company’s board intends to use the 2015 profit for business development.

 

Shares of Rigas FF were delisted from the Secondary List of the Nasdaq Riga stock exchange on September 3, 2015. The company’s shareholders at an extraordinary meeting on June 16, 2016, passed a resolution about delisting the company’s shares after the largest shareholder, Capital Holding, made a mandatory buyout offer and acquired 100% shares in Rigas FF.






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