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Olainfarm Has Increased Its Sales Of Meldonium By 250% In Three Years

on January 23, 2014

JSC Olainfarm confirms that Chamber of Civil cases of the Supreme Court of Latvia in its ruling has partially satisfied the claim by JSC Grindeks to cancel the registration of trade marks MIDOLAT and МИДОЛАТ.  Therefore it is now an obligation of JSC Olainfarm to destroy all the medicines and packaging, on which a graphic designation of Mildronāts, MIDOLAT and МИДОЛАТ.  This has to be completed within one year after the ruling takes effect.

JSC Olainfarm does not produce either medicines or packaging with such designations since 2010, therefore this obligation poses no impact on performance of financial state of the company.

„Respecting worries of Grindeks about the trade mark of its flagship product, we have been producing and selling meldonium under trade marks of Vazonat, Vazomag, Zovanat and Meldonium Olainfarm for three years now,” says Salvis Lapins, Member of the Board of JSC Olainfarm. „We have registered trade marks on this metabolic medicine in 27 differrent countries.  Sales and production volumes of this product have grown by 250% over the last three years making it s stable participant of our top 15 products team”.

 

JSC OlainFarm is one of the biggest pharmaceutical companies in Latvia with 40 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 35 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.  

 

Information prepared by:

Salvis Lapins
Member of the Board
JSC Olainfarm
Tel: +371 6 7013 717
Cell: +371 2 6448 873
E-mail: slapinsh@olainfarm.lv

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