JSC Olainfarm has been invited to participate in building a vaccine manufacturing plant in Latvia that could be established together with LLC Pharmidea and JSC Grindeks. The implementation of the idea could also receive support from the state. It should be noted that this is a long-term project that is in the initial stage, therefore at present it is not possible to provide additional information on the impact on the financial results of JSC Olainfarm.

"We should take into account that the launch of this type of production requires specific knowledge and infrastructure and, most importantly, significant financial resources. For a project to be successful it requires mutual understanding and a common approach between all parties involved – government, healthcare, universities and industry. Also, the implementation of such a project would take several years," said Jeroen Weites, Chairperson of the Management Board of JSC Olainfarm.

JSC Olainfarm will continue to participate in the research of the production plant.

JSC Olainfarm, a part of Olainfarm Group, is one of the leading pharmaceutical companies in the Baltic States offering high quality medicine and chemical pharmaceutical products. The business strategy “FORWARD” highlights the company’s main vision – to become one of the TOP10 Central and Eastern European manufacturing companies by 2025.

With nearly 50 years of expertise, Olainfarm Group delivers sustainable healthcare products and services with added value to patients in more than 50 countries all over the world via its key subsidiaries – pharmaceutical company JSC Olainfarm, food supplement & medical device producer Silvanols, elastic & compression material producer Tonus Elast, pharmacy chain Latvijas Aptieka and healthcare & diagnostics centres DiaMed & OlainMed.

Additional information:  
Jānis Dubrovskis
Investor Relations Advisor of JSC Olainfarm
Phone: +371 29178878
Email: janis.dubrovskis@olainfarm.com