Latvia's pharma reports best ever six-month results
This article was originally published in Scrip
Executive Summary
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.