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Our commitment to ensuring quality healthcare began back in 1972.

Discover how we have been at the forefront of the pharmaceutical development and manufacturing sector in our region for over half a century!

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1965
1970
1980
1990
2000
2010
2020
Now
1965 1970

The Beginning

As Riga’s pharmaceutical factories were unable to produce the required amount of medication, in 1968 the construction of Olaine Chemical-Pharmaceutical Plant was started. It was one of the most important five-year construction projects, along with the construction of Riga HPP and Inčukalns gas storage. The construction of the plant lasted three years, and during its process the surrounding environment changed significantly: the place where the factory was built was marshy, with small sand dunes.

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1965
On December 4th, the Council of Ministers of the Latvian Soviet Socialist Republic adopted a decision to construct a chemical-pharmaceutical factory in the town of Olaine.
1968
Construction of the factory building was commenced.
1970 1979

The First Synthesis

The first synthesis of furagin was carried out on October 10th. That day is considered to be the start of the company’s operations, which at that time was called Olaines ķīmiski-farmaceitiskā rūpnīca (Olaine Chemical-Pharmaceutical Plant).

Turpinājās ražošanas cehu un laboratoriju ēku būvniecība, kā arī rūpnīca aktīvi iesaistījās dzīvojamo un sabiedrisko ēku attīstībā – savulaik strādniekiem celtajās kopmītnēs tagad atrodas Olaines novada pašvaldība, sociālais dienests, mūzikas un mākslas skola, kā arī restorāni un veikali.

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1972
The workshop Nr. 6 was put into operation in July.
1972
The first synthesis of furagin was carried out on October 10th. That day is considered to be the start of the company’s operations, which at that time was called Olaines ķīmiski-farmaceitiskā rūpnīca (Olaine Chemical-Pharmaceutical Plant).
1975
The Central Factory Laboratory developed the technology for the production of the cardiac drug Difril, and also started the production of medical preparations in the form of tablets. In 1975, the number of employees at the factory reached one and a half thousand.
1976
Olaine Chemical-Pharmaceutical Plant became the leading manufacturer in the Latvbiofarm association. The production capacity of the enterprise made it possible to supply all the existing factories-manufacturers in the territory of the Soviet Union with active pharmaceutical ingredients and intermediates of corresponding groups.  In 1976, the production of the famous antiviral drug remantadinum was started, and a little later, the production of the anti-allergy drug quifenadini hydrochloridum.
1979
Olainfarm started producing additional 26 medical preparations developed by specialists in organic synthesis. Based on their works, more than half of all production was made in the company.
1980 1989

Focus on Ecological Research

The company has always paid special attention to ecological research, ensuring the surrounding environment against chemical and wastewater pollution. In March 1989, a special laboratory for the ecology of the production area was established, where research on toxicological evaluation of wastewater was carried out. The air quality in the industrial area was also studied and analysed.

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1980
Synthesis of 15 more products was developed. After a while, the management of the enterprise made a decision to start producing finished forms of medicaments in addition to the existing product range. Cooperation with leading scientists of the Soviet Union provided an opportunity to develop a range of high quality and scientifically valuable products.
1983
Olainfarm started producing bilignin, a preparation for the treatment of liver and biliary tract diseases.
1984
Olainfarm’s production range reached up to more than 70 different preparations, the best known of which were nitrofurans.
1985
The arrhythmia treatment medication Aetacizinum was launched on the market.
1989
Olainfarm took further steps towards improving environmental protection with establishing a special ecological laboratory for toxicological assessment of wastewater, as well as researching and analysing air quality in the industrial area.
1990 1999

A Recognised 
Success

The beginning of the nineties was marked by radical changes in the whole Latvian economy, including industrial production. One of the words that characterised this time was “deficit”. There was a lack of raw materials and products. Various medicines were not available in pharmacies.

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1991
Historical changes occurred in the political and economic situation in all the former USSR countries, including Latvia. The operation of Olaine Chemical-Pharmaceutical Plant didn’t remain unaffected. Production output of the strongest lines of synthesis (adamantane, quinuclidinone, and other derivatives) was focused on selling to Western countries.
1996
Latvian state announced a round of public offering, making it possible to apply for certificates for purchasing shares of companies to be privatised, including Olaine Chemical-Pharmaceutical Plant.
1997
The state company Olaine Chemical-Pharmaceutical Plant was privatised and reorganised into JSC Olainfarm.
1997
The company's 25th anniversary celebration was held at the Latvian National Opera.
1998
Olainfarm was on the list of the most successful new companies. Compared to the situation in 1990, the volume of production and exports had increased significantly.
2000 2009

Expanding 
in the West

The 2000s were an era of successful ambition. Focus on quality enabled the company to obtain multiple quality certificates and start exporting to even more new markets. The high business potential was also reflected in the stock market.

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2000
The company’s main objective became the provision of production quality in order to acquire certificates of quality compliance from leading companies in the world.
2001
After successful audits conducted by well-known companies, such as Cilag (Switzerland), Johnson&Johnson (USA) and Sanofi (France), Olainfarm entered the global market as an active participant in the production of APIs.
2002
A certificate according to the inspection requirements of the U.S. Food and Drug Administration (FDA) was obtained.
2004
Grandiose reconstruction of the manufacturing plant was finished in compliance with the requirements of the Good Manufacturing Practice of the European Union.
2004
JSC Olainfarm obtained the Good Manufacturing Practice certificate of compliance. This symbolised the start of a new period in the company’s history.
2005
Shareholders decided to increase the fixed capital of JSC Olainfarm by 3 million lats to 13.25 million lats.
2006
Considering JSC Olainfarm’s positive development dynamics and the quality of investor relations, company shares were transferred to the most prestigious Baltic Main List. The popular anti-virus preparation Remantadīns® (Remantadine) was registered as the first of the company’s manufactured medicaments in Poland.
2007
Project for rehabilitation of hazardous waste site, Ekolauks, was started under the management of JSC Olainfarm. JSC Olainfarm received the Baltic Stock Exchange award for the best investor relations on the Internet in 2007. JSC Olainfarm, in cooperation with Swedish partners Jucker Pharma, received an order from the UK branch of Swiss pharmaceutical company Novartis – Novartis Grimsby Limited – for production and supply of chemical-pharmaceutical products for the period from February to August 2007. The total sum of the order was 1.166 million euros.
2008
JSC Olainfarm opened a representative office in Vietnam and started an ambitious sales promotion programme in important sales markets.
2009
At the award ceremony of newspaper Dienas Bizness for Top 500 most successful companies in Latvia, JSC Olainfarm received the special award from NASDAQ OMX Riga as the company on the stock exchange with the highest share price increase from early 2009 to November 1st. The company’s share price in 2009 increased by 160%.
2010 2020

Record Sales and Recognition

As the company kept on expanding internationally, new subsidiaries were added to the group. New milestones were achieved. Success was reflected both by financial performance as well as recognition in the form of many business awards.

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2010
Registration of representation offices in Serbia and Tajikistan. The first registered product in Serbia was anti-virus preparation Remavir®.
2011
When the sales promotion programme, which started in 2008, showed significant results, the company set even higher new records of profit and turnover. For the first time in its history, the shareholders decided to pay dividends in the amount of 10% from the previous year’s profit. JSC Olainfarm started building its own chain of pharmacies called Latvijas aptieka.
2013
JSC Olainfarm acquired a controlling stake in the leading Latvian food supplement company Silvanols.
2014
JSC Olainfarm won the Export Champion 2014 Award at the competition is organised by the Ministry of Economics and the Investment and Development Agency of Latvia.
2015
In January 2015, JSC Olainfarm opened the new finished dosage form drug manufacturing plant, which was created with investments of 9.6 million euros. It consists of a nitrofuran production facility, a production facility of small finished drug series, and a laboratory for the development of finished drug forms.
2016
In May 2016, JSC Olainfarm concluded an agreement on the purchase of 100% of capital shares of the manufacturer of elastic medical products Tonus Elast Ltd.
2016
JSC Olainfarm received an award in the decade nomination “Best 10-year performance” for the biggest share price growth and an increase in the Baltic Market Awards ranking.
2017
JSC Olainfarm received an award for being recognised as the best employer in Riga region from the Employers’ Confederation of Latvia (LDDK) as . The company also received this award in 2015.
2017
Valērijs Maligins, long-term Chairman of the Board and main shareholder of JSC Olainfarm, passed away on December 9th.
2018
Olainfarm Group had reached the highest consolidated sales in company history, exceeding more than 124 million euros.
2018
The Business Development Department, whose primary focus is on creating long-term development strategies based on the strengths and experiences of Olainfarm for competitiveness in the global pharmaceutical market, was established.
2018
During the 12-year period between 2006 and 2018, Olainfarm’s value had reached the highest growth among TOP 101 companies in Latvia – the company’s value increased by 19 times, i.e. 78 million euros.
2018
In the annual CV-Online survey of Latvia’s most desirable and best employers, JSC Olainfarm was nominated as the 3rd best employer in the production sector in 2018 and the 12th most desirable employer in Latvia overall. This is a really high rating for the company as one of the largest employer’s in Latvia.
2019
2019 was the best financial year in Olainfarm Group’s history in terms of both revenue and net profit. In 2019, the Group’s revenues reached 137 219 thousand euros, which was an increase of 10%.
2019
JSC Olainfarm won the international World Health Organization (WHO) tender for the supply of the anti-tuberculosis drug PASS sodium salt in 2019-2020.
2019
JSC Olainfarm made special efforts to implement projects by attracting European Union co-financing. The project “Implementation of experimental technology for manufacturing of new products in JSC Olainfarm“ was successfully completed in August 2019.
2019
JSC Olainfarm approved a dividend policy with the aim of creating a well-thought-out, balanced and transparent profit distribution model that ensures regular dividend payments to shareholders and the achievement of Olainfarm’s long-term business goals.
2020 now

New Ambitions and Goals

With the ever-changing global politics, the company is working hard to enter new export markets, covering Western Europe, the Middle East, North Africa and North America. For that, a new brand identity, suitable for the new markets is introduced. In parallel, 100+ new products are being developed to make healthcare reachable all over the world.

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2020
JSC Olainfarm approved a new strategy for the years 2020–2025. The main goal is to become one of the TOP 10 largest pharmaceutical companies in Central and Eastern Europe by 2025, which sustainably supplies healthcare products and services in specific therapeutic areas: cardiovascular diseases, neurology, psychiatry, and treatment of urinary tract diseases.
2021
In January 2021, Olainfarm received the ISO 14001 certificate for environmental management system standard, passing the regular post-monitoring audit in the field of environmental management. The company promotes the efficient use of energy resources and takes care of reducing the impact of its economic activity on the environment.
2021
In February 2021, Olainfarm opened the rebuilt cold station and its engineering system, which contributes to the reduction of greenhouse gas emissions. More than 2.7 million euros have been invested in the modernisation of the cooling station and distribution infrastructure, including co-financing from the Cohesion Fund in the amount of 700 thousand euros.
2022
In January 2022, JSC Olainfarm will withdrew from the stock exchange.
2022
In June 2022, JSC Olainfarm won the gold category in the "Sustainability Index" strategic management assessment of companies.
2023
Olainfarm undertook various new corporate social responsibility projects. A new scholarship program "There is Chemistry Between Us!", presenting 3,000 euro scholarships to young chemistry teachers was founded. In cooperation with the municipality of Olaine region, Olainfarm started gifting each newborn a dowry with goods necessary for childcare.
2023
In June 2023, Olainfarm concluded an agreement with the Development Financial Institution "ALTUM" and SEB Bank for co-financing in the state support program "Investment loans for large and medium-sized merchants with a capital discount for the promotion of competitiveness", which provides for a 31.75 million euro investment in increasing production capacity, green energy and environmental projects.
2024
With an investment of 3.3 million euros, Olainfarm opened a solar panel park with a total capacity of 3.2MW. Solar energy provides up to 40% of the company's total annual electricity consumption.
2024
New Olainfarm subsidiaries opened in France, Italy, Spain, Germany and Poland.
2024
Olainfarm rebranded itself to Olpha along with launching a new brand look with a goal of expansion in Western markets.

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