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”Olainfarm” will protect its rights to use trademarks “MIDOLAT®” /”МИДОЛАТ®” in Latvia
Emitents Olainfarm, AS (213800WCG52W62ENOP27)
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Datums 2010-07-29 14:38:22
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Olaine, July 29, 1010
 
”Olainfarm” will protect its rights to use trademarks  “MIDOLAT®” /”МИДОЛАТ®” in Latvia
 
It has been almost one year since “MIDOLAT®”/”МИДОЛАТ®” are the registered trademarks of Olainfarm in Latvia.  Meldonium produced by “Olainfarm” is becoming well known and gaining popularity in several countries also under the trade mark  “Vazonat®”.  Olainfarm confirms that the district court of Riga has assigned temporary means of protection by seizing and recalling from distribution all medications of the Olainfarm labelled with textual designations “MIDOLAT®” un “МИДОЛАТ®”, as well as by prohibiting the use of the textual trademark  “MIDOLAT®”/”МИДОЛАТ®” in commercial activities of Olainfarm. Although, so far not a single unit of „MIDOLAT®” has been sold in Latvia, Olainfarm intends to protect its trademark rights.
 
„The loud attack of JSC “Grindeks” on Olainfarm’s trademarks of “MIDOLAT®”/”МИДОЛАТ®    was full of insults, which is yet another proof that actions of JSC „Grindeks” are desperation driven.  JSC “Grindeks” would be glad to prohibit everyone to produce the generic version of Mildronats, including the production of “MIDOLAT®”/”МИДОЛАТ®.  Registration of trademarks in the Republic of Latvia is done by the Patent Office of the Republic of Latvia - a competent governmental institution, which makes its decisions basing not only upon applications, but also conducts relevant tests and analyses.   With its outcry, JSC „Grindeks” insults not only Olainfarm, but also the experts of Patent Office of the Republic of Latvia who registered the trademark of “MIDOLAT®”/”МИДОЛАТ® in Latvia. JSC „Grindeks” itself was very little preoccupied with honesty, fair competition and respect for reputation when choosing the name for its product which had only one letter difference from that of „Remantadīns”®, (registered trademark of Olainfarm for 15 years) and using Chinese made API in the production of it. It must be noted, that despite all the investments in the trademark of „Remantadīns” ® , Olainfarm brought up no claims against JSC „Grindeks”.  Obviously that good will of Olainfarm was mistakenly taken by JSC „Grindeks” for the sign of weakness. We do respect JSC “Grindeks” and its IP rights, however, in the conditions of the free competition we will not submit to their obvious dictate and will protect our right to use our trademarks of “MIDOLAT®”/”МИДОЛАТ®”.  Besides, all these activities will cause us some damages, which, however insignificant, will be fully recovered from the failed party,” says Salvis Lapins, member of Olainfarm’s Board.
 
Olainfarm expresses its disappointment with the fact that its colleagues from the company that for the present is the biggest producer of medicines in Latvia by the volume of sales, in times when its sales have been dropping several quarters in a row, instead of actively working at new markets and new products are getting involved in challenging a trademark of “MIDOLAT®”/”МИДОЛАТ® registered nearly one year ago and in using such inappropriate methods as seizing the inventory.
 
It must be noted that only a court can declare anyone guilty.  Therefore we have reasons to believe that JSC „Grindeks” has been disrespectful, by distributing their opinion about legality of Olainfarm’s activities. This is a clear attempt to damage the long built reputation of Olainfarm. However, the intentions of JSC „Grindeks” to protect its formerly exclusive and successful product, by prohibiting or preventing any other producer to launch similar medicine are understandable.

AS „Olainfarm“ is one of the largest companies in Baltic countries with nearly 40 years of experience in production of medicines and chemical and pharmaceutical products. The key principle of company's operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Currently products of “Olainfarm” are being exported to more than 30 countries worldwide, including the Baltics, Russia, other CIS, Europe, North America, Asia, and Australia
 
Information prepared by
Salvis Lapins
JSC "Olainfarm"
Member of the Board
tel. +371 6 7013717,
Cell: + 371 2 6448873
Fax. + 371 6 7013777
 
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