In January-June 2021, the Latvian pharmaceutical concern Olainfarm increased sales of products in Ukraine by 24% compared to the same period in 2020, to EUR 6.313 million.
According to the company’s materials, the improvement of this indicator has been facilitated by the introduction of a new marketing model in Ukraine since the end of 2020.
In general, over the six months of 2021, the group’s sales reached EUR 66.671 million, which is almost the same as the level of sales for the same period in 2020.
The largest markets for Olainfarm Group were Latvia (30%), Russia (about 27%), Belarus (about 12%), and Ukraine (over 9%).
Olainfarm is the largest pharmaceutical company in Latvia and one of the largest pharmaceutical companies in the Baltic States. Its product portfolio includes over 60 finished dosage forms, 25 active pharmaceutical ingredients and over 20 chemical intermediates.
Subsidiaries are located in Ukraine, Lithuania, Turkey and Kyrgyzstan, and representative offices – in the Russian Federation, Belarus, Tajikistan, Albania, Mongolia, and Uzbekistan.
The Latvian pharmaceutical concern Olainfarm has expanded its marketing team and set up fully operating representative office in Ukraine, the company said in a press release posted on the GlobeNewswire website.
According to the press release, 25 Olainfarm employees will provide a full-fledged presence in 14 cities of Ukraine, in particular, Kyiv, Dnipro, Kharkiv, Odesa and Lviv.
The capacity expansion helped to raise the company’s local impact by reaching 63,000 healthcare professionals and about 100,000 digital contacts in a 2020 campaign, executed in the second part of the year. The project contributed to the adoption of a positive decision to expand the company’s presence in Ukraine.
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. Its product portfolio includes over 60 finished dosage forms, 25 active pharmaceutical ingredients and over 20 intermediates.
Subsidiaries are located in Ukraine, Lithuania, Turkey and Kyrgyzstan, and representative offices – in the Russian Federation, Belarus, Tajikistan, Albania, Mongolia, and Uzbekistan.
The Latvian pharmaceutical concern Olainfarm in January-March 2019 increased sales in Ukraine by 21% compared to the same period in 2018.
According to the concern, the share of its sales in Ukraine for the two months amounted to 8% (EUR2,852 million) of consolidated sales.
However, in March 2019, the consolidated sales of Olainfarm in Ukraine decreased by 24% compared with March 2018, to EUR172,000 and amounted to 2% of the total sales of the concern.
In total, in the first quarter of 2019, the concern increased sales by 14%, to EUR34.7 million, in March the sales of the group rose by 3% compared to March 2018, to EUR10.8 million.
In January-March 2019, Latvia (a share of 28%), Russia (26%), Belarus (16%) and Ukraine (8%) remained the main sales markets of Olainfarm group.
Olainfarm is Latvia largest and one of the largest companies in the Baltic States for production of medicines and chemical-pharmaceutical products. The portfolio of its products includes over 60 finished dosage forms, 25 active pharmaceutical substances and more than 20 chemical intermediate products.
