Olainfarm’s 6 months sales have grown by 6%

23/07/2009

Sales of JSC “Olainfarm” during first half of 2009 compared to the first half of 2008 have grown by 6%, newspaper “Chas” was informed by Olainfarm’s CEO, Mr. Valerijs Maligins. Sales to Azerbaijan have been the fastest growing as they have increased by 147%, followed by Moldova with 76% increase. The third most growing market for Olainfarm has been its main market Russia, where Olainfarm’s sales, despite certain downturn of pharmaceutical market there, have increased by 40%.



Kazakhstan and Belarus have also demonstrated considerable growth, with 22% and 8% growth respectively. The company has achieved 4% sales growth in Latvia. However, sales to countries like Tajikistan, Uzbekistan, Estonia and Lithuania are smaller this year.


Six months financial report of JSC “Olainfarm” will be submitted to NASDAQ OMX Riga on August 28th, 2009.


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#ins_quot2#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

slapinsh@olainfarm.lv