The Latvian pharmaceutical company JSC “Olpha” invested €17.53 million in development in 2024. Most of the investment was directed toward research, product portfolio expansion, technology modernisation, and the implementation of more environmentally friendly production solutions. The purpose of these extensive investments is to develop the company’s generic medicine portfolio and strengthen its long-term competitiveness in Western markets.

In 2024, €15 million was invested in expanding the company’s portfolio with new off-patent medicines. In addition to product portfolio investments, key projects included the construction of a solar panel park, installation of blistering and packaging lines—reducing manual work in several production stages—and the introduction of a laboratory information management system to improve the efficiency of quality control processes.

an market strengthen the presence and role of local manufacturers, reducing dependency on imported drugs,”

said Juris Bundulis, Chairman of the Board of JSC “Olpha”.

By early 2025, 38 new “Olpha” medicines across various therapeutic groups had been submitted for registration in Western European countries. Commercialisation has already begun in several EU markets for six products—three in cardiology, two in urology, and one in the diabetes therapeutic area. According to the company’s development plan, up to 20 new off-patent medicines will enter the EU and UK markets this year and next.

In 2024 and continuing this year, “Olpha” also invested in social responsibility projects and employee well-being. Among the most notable initiatives are the “There’s Chemistry Between Us!” programme supporting science teachers, support for youth and women’s hockey development in Latvia, baby care packages for newborns in Olaine, and collaboration with the Latvian Children’s Support Fund on initiatives improving children’s mental health in Latvia.

The company also invests consistently in improving the work environment and employee well-being. With more than 700 employees, “Olpha” is one of the largest employers and taxpayers in the Olaine region. Each year, the company invests an additional €4,000 per employee in benefits, which include free bus transport from Riga and Olaine, partial lunch compensation, health insurance, team-building events, training, and financial support for important life events.

In 2024, “Olpha’s” turnover reached €100.78 million, a decrease compared to €112.76 million in 2023. The consolidated turnover of the “Olpha” Group remained stable at €126.87 million. The company’s profit also declined year-on-year. The drop in turnover of the parent company reflects a strategic shift toward market diversification and a focus on Western export markets—an expansion that remains challenging for smaller Latvian pharmaceutical producers. At the same time, “Olpha” continues to actively grow its sales volumes in Western European markets to achieve faster turnover and profitability growth through its new product portfolio in the coming years.

JSC “Olpha” (formerly Olainfarm) is one of the largest companies in the Baltic States, with over 50 years of experience in manufacturing medicines and other pharmaceutical products. Its product range includes more than 70 finished dosage forms and over 20 active pharmaceutical ingredients. The main therapeutic groups include neurology, cardiology, antibacterial therapy, urology, and medicines for allergy and diabetes treatment. “Olpha” products are exported to over 60 countries. The company employs more than 700 people and has subsidiaries in France, Italy, Spain, Germany, and Poland.