AS Olainfarm, the leading pharmaceutical company in the Baltics, has become a Platinum member of the Norwegian Chamber of Commerce in Latvia (NCCL), which unites nearly 100 members and is one of the largest and most active foreign chambers of commerce in Latvia.

Olainfarm plans to nearly double its export turnover in the next five years, expanding both its product portfolio and presence in European countries. The Norwegian Chamber of Commerce in Latvia provides an excellent platform for sharing experiences, building and strengthening business relationships both in Latvia and in export markets,” says Jānis Buks, Chairman of the Board of AS “Olainfarm.”

Olainfarm is one of the leading pharmaceutical companies in the Baltics, and we are pleased that it has joined our member network, thus enabling us to provide even greater competence, knowledge, and exchange of experiences among the members, promoting closer cooperation between Latvian and Norwegian companies,” emphasizes Matīss Kukainis, NCCL Chairman of the Board.

NCCL is a non-governmental organization founded in 2007 and is currently one of the largest and most active foreign chambers of commerce in Latvia. It brings together approximately 100 members representing both Norwegian investors in Latvia and Latvian companies operating or interested in operating in Norway. Its goals are to strengthen economic cooperation between Norway and Latvia, by promoting knowledge and experience exchange, and fostering an open, responsible, and sustainable business environment in Latvia.

Olainfarm, which is part of the “AB City” group, is one of the largest companies in the Baltic countries with 50 years of experience in the production of medicines and chemical pharmaceutical products. The company manufactures high-quality, safe, and effective products for Latvia and the rest of the world. Overall, Olainfarm products are exported to more than 60 countries. The goal of Olainfarm is to become one of the top 10 pharmaceutical companies in Europe in its product groups, ensuring that patients have the necessary medicines and products in all stages of healthcare. To achieve this, with the support of shareholders the company plans to invest in several areas, including new production lines, research and development of new products, laboratory modernization, increasing export volume, improving energy efficiency, and implementing renewable energy technologies. The total investment in these projects exceeds 100 million euros.

Currently, Olainfarm product portfolio consists of more than 100 different products and intermediates, with a goal to introduce at least 10 new products in production in the coming years and increase production capacity by at least 20%, nearly doubling export volume as well. Additionally, at least 65 highly qualified jobs will be created in Olaine, with nearly half of them in research and development.