Olaine Chemical-Pharmaceutical Plant was established in October 10, 1972 as a state enterprise. At the beginning, the factory manufactured only biologically active substances.
Later it also started manufacturing finished pharmaceuticals, and the factory became one of the largest chemical-pharmaceutical enterprises in the Soviet Union producing more than 25 products.
JSC Olaine Chemical-Pharmaceutical Plant is the largest chemical – pharmaceutical manufacturer in the Baltic States. The main activities of the company are:
– production of high quality biologically-active and other chemical compounds through organic synthesis, both for the existing products and customised orders (contract manufacturing);
– production of finished pharmaceuticals from self-synthesised, as well as purchased substances, mostly in the form of tablets and capsules.
Presently JSC Olainfarm manufactures 78 finished pharmaceuticals and 35 different active pharmaceutical substances and chemical intermediaries.
The main export markets for the company are the CIS states (Russia, the Ukraine, Byelorussia etc.) accounting for more than half of total output.
Export of products to the European Union is less than 10%. Russian crisis of 1998 created the need for reorientation of market priorities, as it had a substantially negative effect on the company’s performance and its shares’ prices.
In 1998 the company started the actual re-orientation towards the Western markets. At present contracts for manufacturing of chemical intermediates are concluded with several Western companies.
JSC Olainfarm informs that in 2019 submission of financial results is scheduled for the following dates:
- Unaudited consolidated Annual Report for 2018 – on February 28, 2019;
- Unaudited consolidated interim financial statements for 3 months – on May 31, 2019;
- Unaudited consolidated interim financial statements for 6 months – on August 30, 2019;
- Unaudited consolidated interim financial statements for 9 months – on November 29, 2019.
Audited consolidated and unconsolidated Annual Report of JSC Olainfarm for 2018 submission planned on April 30, 2019.