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

AS “Olainfarm” confirms that Chamber of Civil cases of the Supreme Court of Latvia in its ruling has partially satisfied the claim by AS „Grindeks” to cancel the registration of trade marks MIDOLAT and МИДОЛАТ. Therefore it is now an obligation of AS „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.

Olaine Rigas rajons, LATVIA

Olaine, January 23, 2014, 2014-01-23 11:44 CET (GLOBE NEWSWIRE) -- AS „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 AS „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”.



 A/s 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 30 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
         A/s „OlainFarm”
         Tel: +371 6 7013 717
         e-mail: Salvis.Lapins@OlainFarm.lv