Today, on 16 October, and in the month of its 47th anniversary, JSC Olainfarm solemnly opens their new production unit building in which approximately 3.6 million euros have been invested for its construction and choosing equipment. JSC Olainfarm already follows the requirements of the European Union regarding the verification of final forms, and now, consequently with the opening of their new unit, is one of the first in Latvia to also be prepared for the updated requirements of the Russian Federation.
In the new production unit building, a packaging station is located where new equipment has been installed for packaging medicinal products and for following the verification requirements, as well as equipment for introducing new products into the manufacturing process and for research. A new area for packaging products, a quarantined storage warehouse for finished products and a product delivery zone have also been constructed. JSC Olainfarm has invested approximately 1.6 million euros into construction and 2 million euros for purchasing equipment, and this is including European Union funds.
“Thanks to the investments of JSC Olainfarm, we managed to provide a chance for our experts to work in comfortable areas with manufacturing technologies of the latest generation. In this way, JSC Olainfarm will be able to increase its production capacity. I can proudly say that JSC Olainfarm will be prepared beforehand to follow the Russian Federation requirements regarding verification of medicinal products. Complying with these requirements will help us to remain competitive in the market outlet of the Russian Federation and in the Commonwealth of Independent States (CIS) in the future as well,” says Lauris Macijevskis, Chairman of the Board of JSC Olainfarm.
“Over the years JSC Olainfarm has been able to adopt change and develop, despite the rapid market changes and strict monitoring and safety control measures regarding the manufacture of medicinal products that Latvia had to enforce upon joining the EU . Today, JSC Olainfarm is an equal partner among other manufacturers of medicinal products in the EU and other countries in the world. Expanding the market options in the CIS countries, also in Russia, can bring an important contribution in the future not only to the company itself, but to our country as a whole, therefore strengthening the pharmacy industry that is key to Latvia’s economy,” says Ilmārs Dūrītis, the Parliamentary Secretary of the Ministry of Health.
Mārtiņš Brencis, Deputy Director at Central Finance and Contracting Agency in European Union fund system development matters: “It is always satisfying to see that a company can wisely use the options provided by EU funds in order to develop, and Olainfarm, which is already a leader of the pharmacy industry in Latvia, is a great example for this. By not settling with the results already achieved, it continued to develop by implementing new and innovative products in their manufacturing processes. This is benefitting not only the company itself, but also the country and science as a whole. With professionality, determination and persistence Olainfarm serves as a success story for using the opportunities provided by the EU funds in a company’s development and for the promotion of export.
Requirements of the European Union and the Russian Federation
In 2019, the European Union Directive on the prevention of falsified medicinal products entered into force. It lays down the requirements for performing safety inspections for all prescription-only medicinal products, which is the so-called verification. This means that there are special codes on the packaging of medicinal products which must be verified before administering these products at the pharmacy. And from 2020, the special provisions for the serialization and traceability of medicinal products will also be adopted by the Russian Federation which means that manufacturers must invest and prepare their production lines.
JSC Olainfarm is one of the largest companies in the Baltic States with more than 45 years of experience in manufacturing medicinal and chemical-pharmaceutical products. The company’s key work principle is manufacturing reliable and effective high quality products for Latvia and the whole world. Currently, the products of JSC Olainfarm are exported to more than 60 countries, including the Baltic States, Russia, other countries from the Commonwealth of Independent States, Europe, North America, countries in Asia and to Australia.
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