Olainfarm Does Not See Any Significant Threats to Its Sales to Ukraine and Russia

on March 5, 2014

Currently Olainfarm does not see any significant threats for its sales to Ukraine and Russia.  However, if the European Union and its partners fail to solve the situation in Ukraine, the outcome could have a negative impact not only on company’s sales in Ukraine bus also in Russia.

„Not only Ukrainian market is important to Olainfarm, Russian one even more crucial, therefore I do hope that the all parties will get involved in solving the current situation and the conflict will be settled peacefully,” says Valerijs Maligins, chairman of JSC Olainfarm.

Preliminary consolidated results of JSC Olainfarm for January 2014 show that sales have reached 9.67 million euro, which is an increase by 24% compared to the same period one year ago.  The biggest sales increases were achieved in Georgia, here sales grew by  3496%, Spain, where sales grew by 843%, Italy, where sales grew by 321% and Lithuania, where sales grew by 126 as well as Latvia, where sales grew by 101%.  In January 2014, sales to Ukraine grew by 4% compared to January 2013. The major sales markets of JSC Olainfarm in January 2014 were Russia, Latvia, Ukraine, Belarus, UK and The Netherlands.

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 35 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

Information prepared by:

Salvis Lapins
Member of the Board
JSC Olainfarm
Tel: +371 6 7013 717
Cell: +371 2 6448 873



Olainfarm Does Not See Any Significant Threats to Its Sales to Ukraine and Russia