| Emitents | Olainfarm, AS (213800WCG52W62ENOP27) |
| Veids | Būtiski notikumi |
| Valoda | EN |
| Statuss | Publicēts |
| Versija | |
| Datums | 2009-12-10 09:33:17 |
| Versijas komentārs | |
| Teksts |
Olaine, December 10, 2009
“Olainfarm” starts exporting to Canada and
Australia
According to its long term cooperation agreement with
international pharmaceutical company “Arrow Group” JSC Olainfarm
has started supplying the active pharmaceutical ingredient (API)
and tablets of memantine (new generation of neuroprotectors) to
Canadian and Australian markets. API worth 31 626 lats
(45 000 Euros) will be shipped to Canada this year, while
memantine pills worth 87 850 lats (125 000 Euros) will be
delivered to Australia in 2010.
“There is a great element of satisfaction in seeing that
this long term work at development and launching of memantine has
resulted in cooperation with such a strong company as “Arrow Group”
and in Olainfarm entering totally new export markets. Although in
monetary terms we are talking about very small sums, one has to
keep in mind that this is just a very beginning and will be
followed by other shipments and countries. This shipment, in
combination with sales of API of rimantadine to USA and shipments
to multinational giant “Novartis” is not only a proof of
exceptional quality of Olainfarm’s products, but it also shows that
Latvian pharmaceutical industry meets the highest international
standards," says Mr. Valerijs Maligins, Olainfarm’s
CEO.
In 2004 Olainfarm signed an agreement with “Arrow
Group”. It provides that Olainfarm will produce API and final
dosage forms (FDFs) of memantine and divide the sales markets with
Arrow Group. „Arrow Group“ will sell
memantine to US, Canada, UK, Australia, New Zealand, Israel and
Japan, while Olainfarm will sell it to the Baltics, CIS, CEE,
Middle East and Asia..
Memantine represents a new generation of
neuroprotectors, with particularly wide and successful application
in treatment of Alzeimer’s disease. Olainfarm has invested about 1
million lats (about 1.5 million euros) in research and development
of this product.
“Arrow Group” is a London based pharmaceutical company
established in 2000, operating in 20 countries. It operates as
“Cobalt” in USA and Canada, as “Arrow Generics” in the UK, and
“Arrow Generiques” in France. “Arrow Group” employs 800
people and it owns three plants in Canada, Malta and
Brazil. In summer 2009 “Arrow Group” was bought by second
largest US generics company “Watson Pharmaceuticals
Inc.” for 1.75 billion US$.
JSC Olainfarm is one of the biggest companies in the
Baltic States with more than 35 years of experience in
production of medicines and chemical and pharmaceutical products.
The basic principle of Company's operations is to produce reliable
and effective top quality products for Latvia and the rest of the
world. Currently the products of JSC Olainfarm are being
exported to more than 30 countries worldwide, including the
Baltics, Russia, CIS, Scandinavian and other Western European
countries, Asia and the USA.
Information prepared by
Salvis Lapins
JSC "Olainfarm"
Deputy CFO
tel. +371 6 7013717,
cell: + 371 2 6448873
fax. + 371 6 7013777
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