2020

In 2020, JSC Olainfarm approved a new strategy “Forward! 2020–2025”. The main goal is to become one of the TOP 10 largest pharmaceutical companies in Central and Eastern Europe by 2025, which sustainably supplies healthcare products and services in specific therapeutic areas: cardiovascular diseases, neurology, psychiatry, and treatment of urinary tract diseases.

As a long-term investment, JSC Olainfarm has established a subsidiary in Russia. Serialization of products manufactured for the Russian market was launched, thus ensuring compliance with the regulatory requirements of medicine verification systems, product traceability and protection against counterfeiting.

Acting in an environmentally responsible way, the project was concluded with the reconstruction of the cold storage plant and its engineering system, which will contribute to the reduction of greenhouse gas emissions.

In order to provide support for the treatment of persons infected with the Covid-19 virus and taking into account the state of emergency declared in the country, JSC Olainfarm donated four artificial lung machines with the total value of 100 thousand euros to Paula Stradiņš Clinical University Hospital, also offering training in the use of the four donated artificial lung machines.

2019

2019 was the best financial year in the history of the Olainfarm Group in terms of both revenue and net profit. In 2019, the Group’s revenues reached 137 219 thousand euros, which is an increase of 10%.

JSC Olainfarm also won the international World Health Organization (WHO) tender for the supply of the anti-tuberculosis drug PASS sodium salt in 2019-2020.

JSC Olainfarm made special efforts to implement projects by attracting European Union co-financing. The project “Implementation of experimental technology for manufacturing of new products in JSC Olainfarm“ was successfully completed in August 2019.

JSC Olainfarm approved a dividend policy, the aim of which is to create a well-thought-out, balanced and transparent profit distribution model that ensures regular dividend payments to shareholders and the achievement of Olainfarm’s long-term business goals.

2018

Olainfarm’s Group has reached the highest consolidated sales in the company’s history – more than 124 million euros.

In the annual CV-Online survey of Latvia’s most desirable and best employers, JSC Olainfarm was nominated as the 3rd best employer in the production sector in 2018 and the 12th most desirable employer in Latvia. This is a really high rating for the company as one of the largest employer’s in Latvia.

In 2018, the company established a Business Development Department, whose primary focus is on creating long-term development strategies based on the strengths and experiences of Olainfarm for competitiveness in the global pharmaceutical market.

Among TOP 101 companies in Latvia Olainfarm’s value has reached the highest growth in the 12- year period between 2006 and 2018 – Companies’ value increased for 19 times or 78 million euros.

2017

Longgo, a subsidiary of JSC Olainfarm, offering modern natural products for health and well-being was founded on July 13.

On 21 July, JSC Olainfarm was registered in the Register of Enterprises of the Republic of Latvia as the only owner of LLC Olaines veselības centrs. Olaines veselības centrs (the name was changed to OlainMed in January 2018) provides outpatient healthcare services in Olaine.

JSC Olainfarm receives the award from the Employers’ Confederation of Latvia (LDDK) as the best employer in the Riga region in 2017. The company also received this award in 2015.

Valērijs Maligins, long-term Chairman of the Board and main shareholder of JSC Olainfarm, passed away on December 9.

2016

On 20 January, JSC Olainfarm concludes an agreement on the purchase of 100% of capital shares of the manufacturer of organic cosmetics Kiwi Cosmetics Ltd..

JSC Olainfarm receives an award in the decade nomination “Best 10-year performance” for the biggest share price growth and an increase in the Baltic Market Awards ranking.

On 12 May, JSC Olainfarm concludes an agreement on the purchase of 100% of capital shares of the manufacturer of elastic medical products Tonus Elast Ltd..

2015

On 13 January, JSC Olainfarm opened the new finished drug manufacturing plant, which was created with investments of 9.6 million. It consists of a nitrofuran production facility, a production facility of small finished drug series, and a laboratory for the development of finished drug forms.

2014

JSC Olainfarm won the Export Champion 2014 Award at the competition is organised by the Ministry of Economics and the Investment and Development Agency of Latvia.

2013

JSC Olainfarm acquired a controlling stake in the leading Latvian food supplement company Silvanols.

2011

When the sales promotion programme, which started in 2008, showed significant results, the Company set even higher new records of profit and turnover. For the first time in its history, the Company’s shareholders decided to pay dividends in the amount of 10% from the previous year profit. JSC Olainfarm started building its own chain of pharmacies Latvijas aptieka.

2010

The Company registered its representation offices in Serbia and Tajikistan. The first registered product in Serbia was anti-virus preparation Remavir®.

2009

At the award ceremony of newspaper Dienas Bizness for Top 500 most successful companies in Latvia, JSC Olainfarm received the special award from NASDAQ OMX Riga as the company of the stock exchange with the highest share price increase from early 2009 to 1 November. The Company’s share price in 2009 increased by 160%.

2008

JSC Olainfarm opened a representation office in Vietnam and started an ambitious sales promotion programme in important sales markets.

2007

The project was started for the rehabilitation of hazardous waste site Ekolauks under the management of JSC Olainfarm.

JSC Olainfarm received the Baltic Stock Exchange award for the best investor relations on the Internet in 2007.

JSC Olainfarm in cooperation with Swedish partners Jucker Pharma received an order from the UK branch of Swiss pharmaceutical company Novartis – Novartis Grimsby Limited – for production and supply of chemical pharmaceutical products for the period from February to August 2007. The total amount of the order: 1.166 million Euros.

2006

Considering the positive development dynamics of the Company and the quality of investor relations, shares of the Company were transferred to the most prestigious Main List of the Baltics. Popular anti-virus preparation Remantadīns® (Remantadine) was registered as the first of the Company’s manufactured medicaments in Poland.

2005

Shareholders of JSC Olainfarm decided on increasing the fixed capital of the Company by 3 million Lats, to 13.25 million Lats.

July 30, 2004

JSC Olainfarm obtained a Good Manufacturing Practice certificate of compliance. This certificate symbolized the start of a new period in the Company’s history.

2003 – 2004

Grandiose reconstruction of the manufacturing plant was finished in compliance with the requirements of Good Manufacturing Practice of the European Union.

2002

A certificate was obtained according to the inspection requirements of the U.S. Food and Drug Administration (FDA).

2001

After successful audits conducted by such well-known companies as Cilag (Switzerland), Johnson&Johnson (USA) and Sanofi (France), the Company entered the global market as its actual participant in the production of active chemical ingredients.

2000

The main objective of the Company became the provision of production quality that would allow it to acquire certificates of quality compliance from leading companies in the world.

1997

State enterprise Olaine Chemical-Pharmaceutical Plant was privatized. As a result of the privatization, the enterprise was reorganised into the joint stock company Olainfarm, and its shares were listed on the secondary list of the Riga Stock Exchange.

1991

Historical changes occurred in the political and economic situation in all the former USSR countries, including Latvia. These changes affected also the operation of Olaine Chemical-Pharmaceutical Plant; therefore a decision was made to develop the strongest lines of synthesis (adamantane, quinuclidinone, and other derivatives) for selling products to Western countries.

1980

Synthesis of 15 products was developed. After a while, the management of the enterprise made a decision to produce also finished forms of medicaments. Cooperation with leading scientists of the Soviet Union provided an opportunity to develop a range of high quality and scientifically valuable products.

1976

Olaine Chemical-Pharmaceutical Plant became the leading manufacturer in the Latvbiofarm association. The production capacity of the enterprise made it possible to supply all the existing factories-manufacturers in the territory of the Soviet Union with active chemical ingredients and semiproducts of corresponding groups.

October 1972

The first operation of furagin synthesis was carried out. That day is considered as the day of commencement of the operation of the Company, which at that time was named Olaines ķīmiski-farmaceitiskā rūpnīca (Olaine Chemical-Pharmaceutical Plant).

1968

Construction of the factory was commenced.

December 4, 1965

The Council of Ministers of the Latvian Soviet Socialist Republic adopted a decision on the construction of a chemical-pharmaceutical factory in the town of Olaine.