At   1   p.m.  on  July  30th  2004  JSC  "Olainfarm"  has  opened  new

manufacturing  plant corresponding to GMP standards. The following took

part  at the opening ceremony: management of the company, chairwoman of

Saeima Mrs. I. Udre, Minister of Economy Mr. J. Lujans, Health Minister

Mr.  R.  Mucinsh  as  well as JSC "Olainfarm" cooperation partners from

many  countries,  pharmacists,  apothecary,  media  representatives and

others. 



Readjustment  of manufacturing in accordance with GMP requirements will

allow  the  company  to begin sale of products on the new markets where

the  request  for our products has been noticed long ago but because of

lack  of  certificate the sale of products was not possible there. Thus

already  now  there are contracts with companies from Bulgaria, Estonia

and Poland, an active work is carried out to domesticate the markets of

Arabian countries as well as French African countries.

It should be mentioned that considering the growing requirements to the

producers  of  medicines  the  most  modern equipment was purchased but

reconstruction  of  premises  was  made  not  only  in  accordance with

European  requirements  but  also  according to much more stringent USA

(FDA)  standards.  Besides, the production velocity of the company will

increase  three times after the reconstruction, which not only increase

ratability,  but will also allow the company to enforce the projects of

contractual manufacturing with foreign partners which until now was not

possible  because  of  lack  of capacity. Already there is a noticeable

interest  in  managing  several  contractual  productions and there are

offers from Netherlands, Belgium, Sweden, as well as from German and UK

companies.



In  year  2004  the  Company is planning to achieve the turnover of 8,4

millions  Lats  Execution  of  this  plan  will  allow  to increase the

turnover  for  15%  in  comparison  to  year 2003. The results of first

half-year confirm complete compliance to the approved plans.