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Sales of Olainfarm in 9 months reach EUR 90.3 mln

BC, Riga, 01.12.2017.Print version
Latvian pharmaceutical group Olainfarm generated EUR 90.384 million in the first nine months of this year, up 15.1% year-on-year, writes LETA, according to the company's statement to the Nasdaq Riga Stock Exchange.

The group's nine-month profit this year was EUR 6.598 million, which represents a reduction by 15.1% compared to the first nine months of 2016.


Sales have increased by 15% compared to nine months of 2016. Major sales markets of Olainfarm during this period were Russia, Latvia, Belarus and Ukraine.


''This is the year when we are investing considerably in integration of our daughter companies into our group and into expansion of chain our representative offices. At the same time, the work at developing some products that are new to the company has also been rather intensive, with particular emphasis on several anticancer and antituberculosis preparations. We expect that some first of them might be commercialized in two years from now,'' says Valerijs Maligins, the company's board chairman.


In nine months of 2017, sales to all key markets of Olainfarm continued growing, except Ukraine, where sales shrunk by 40% compared to nine months of 2016.


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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