“Olainfarm” launches new generic programme for the Baltic countries
JSC „Olainfarm” has developed new programme of generics for the Baltic Countries and is currently actively working on registration and introduction to a Baltic market of five new products. New products of JSC “Olainfarm” for treatment of central nervous system and cardiovascular diseases will be available to customers as early as end of 2007. JSC „Olainfarm“ will offer equivalents of recently original and patented products for more affordable costs.
JSC „Olainfarm” has finalized the first stage of new generics programme, during which the representatives of the company audited production, quality systems and documentation of several international pharmaceutical companies to verify the high quality and safety of their products. The partners selected for production and introduction of generics programme into the Baltic states are the following Western European pharmaceutical companies: „HELM“ (Germany), „Pharmathen“ (Greece), „Chanelle Medical” (Ireland), “Chemo Iberica” (Spain) and “Synthon” (The Netherlands). They are all offering top quality products for the most optimal cost, which will allow “Olainfarm” to sell the medicines to the Baltic market for prices, more affordable to customers than those of original versions.
Now JSC „Olainfarm“ has finalized the negotiations with international partners and has entered into agreements in order to register and introduce five new generic products (analogous copies of original medicines whose patent protection period has expired or is approaching expiration) into the Baltic market.:
- Two medicines for treatment of fungous and other infections;
- Two medicines for treatment of diseases of central nervous system;
- One medicine for treatment of cardiovascular diseases.
„Baltic market has a strategic importance for JSC „Olainfarm“, because the trust of customers of this market in company’s products is a guarantee mark that promotes our products internationally. Ability to react to the needs of customers has always been important to us, therefore we are putting a dedicated effort to develop new products and improve the existing ones, and extend our product portfolio in cooperation with international partners,“ says Deputy CEO, Director of the Department of the drugs’ manufacturing development Jelena Borcova.
All products are first stage generic medicines. They have a quality and safety identical to the original patented medications. It is planned that the medicines will be offered to the Baltic market in December of this year. All new products of the company have their documentation prepared according to the standards of the European Union.
Programme of introduction of the said generics is a first stage of a longer process of registering them in the countries of the CIS and Eastern Europe. JSC “Olainfarm” plans to develop this program further over the longer period of time and will continue to cooperate with international partners to be able to offer its clients latest top quality and safe generic medicines.
Information prepared by:
a/s „Olainfarm“ Deputy CFO