Latvia's pharma reports best ever six-month results
This article was originally published in Scrip
Two Latvian pharmaceutical companies have reported the best ever six-month results in the first half of this year. Grindeks, the largest one, increased turnover by 8% to Ls32 million ($60.7 million) compared with the same period of 2009, while its net profit was up by 21% to Ls4.1 million. Net profit of second-largest Olainfarm has more than doubled to Ls1.8 million, and its sales grew by 17% to Ls12.5 million.
You may also be interested in...
Poland's president, Bronislaw Komorowski, has signed a reimbursement bill into the law which will come into force on 1 January.
In the past two years, most multinational pharmaceutical companies announced plans to create production facilities in Russia. They had been ignoring such an opportunity for years, and there were reasons for that. They included risks to investments, administrative barriers, unclear regulations assuming various interpretations and corruption.
Russia's president Dmitriy Medvedev has requested that his government start talks with the US and the EU on the mutual recognition of clinical trial results (including paediatric trials) and prepare proposals for corresponding amendments of existing regulations.