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International Internet Magazine. Baltic States news & analytics Wednesday, 20.02.2019, 03:29

Olainfarm plans to start packing five of its products for Belarus market

BC, Riga, 14.02.2018.Print version
Latvia’s Olainfarm pharmaceutical company in 2018 plans to start packing five of its products for the Belarus market, the company said in its statement to the Nasdaq Riga stock exchange, cites LETA.

The company reported that NPK Biotest, a Belarus based producer of medical herbal infusions owned by Olainfarm, received a Good Manufacturing Practice certificate of Belarus. This will allow starting packing five Olainfarm products for Belarus market within this year. In addition, this year NPK Biotest becomes distributor of products of Tonus Elast in Belarus.


"Since acquisition of daughter companies we are putting a lot of effort to integrate them and use as many synergies as we can. In NPK Biotest, we have created a certified production platform, which will help us use the advantages provided to local producers in Belarus. Other European producers also expressed their interest in using services of NPK Biotest for packing of their products. We also very highly value a long and successful experience that NPK Biotest has in cooperating with pharmacies and other retailers of Belarus, therefore we entrusted them with distributing products of Tonus Elast. We expect that potential of NPK Biotest will contribute to increasing sales of Tonus Elast in Belarus," said Olegs Grigorjevs, Chairman of the Board of Olainfarm.


Olainfarm acquired Belarus based producer of medical herbal infusions in 2016 in order not only to gain the production platform in Belarus, but also to add new products to the portfolio of the group.


NPK Biotest is one of the first private pharmaceutical companies in Belarus. It was established in 1990 in Hrodna by the team of scientists of Belarus Academy of Sciences. NPK Biotest develops and produces natural herbal remedies and food supplements. Its portfolio contains more than 100 herbal infusions, and mixtures. NPK Biotest also owns four pharmacies in Hrodna.


According to preliminary results, NPK Biotest in 2017 generated EUR 2 million in sales.


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.


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