Olpha
| Company type | Joint stock company |
|---|---|
| Industry | Chemical, Pharmaceutical |
| Predecessor | Olaines ķīmiski – farmaceitiskā rūpnīca (Olaine Chemical-Pharmaceutical Plant) |
| Founded | 1972 |
| Fate | Rebranded from JSC Olainfarm on 19 June 2024 |
| Headquarters | Olaine , Latvia |
Area served | Worldwide (over 60 countries) |
Key people | Juris Bundulis (Chairman of the Management Board), Jānis Buks (Chairman of the Supervisory Council) |
| Products | Finished pharmaceutical products, active pharmaceutical ingredients (APIs), intermediate compounds, proprietary branded medicines |
| Website | www |
JSC Olpha (known as JSC Olainfarm until 19.06.2024) stands as a prominent Latvian enterprise within the Baltic chemical and pharmaceutical industries.
The company originated in 1972 under the name "Olaines ķīmiski – farmaceitiskā rūpnīca" (Olaine Chemical-Pharmaceutical Plant), initially providing pharmaceutical raw materials and intermediates to drug manufacturers across the Soviet Union. After its privatization in 1997, it transformed into a joint stock company, with its shares becoming publicly traded.
Olpha manufactures more than 60 finished pharmaceutical products, alongside 25 active pharmaceutical ingredients (APIs) and 20 intermediate compounds. Its extensive product range highlights proprietary branded medicines unique to the firm. Its primary expertise in finished dosage forms encompasses neurology (including cholinesterase inhibitors, anxiolytics, psychostimulants, and nootropics), cardiology (antiarrhythmics and agents enhancing energy metabolism), infectology (featuring original nitrofurantoin derivatives and antiviral drugs), and allergology (notably fast-acting antihistamines).
The company holds multiple certifications: EU GMP for both APIs and finished products, U.S. FDA cGMP for select APIs, Australian TGA certification for finished dosage forms, CEP for certain APIs, ISO 14001 for Environmental Management, and ISO 17025 for Laboratory Management Systems.
Olpha’s product quality is affirmed through collaborations with international and regional pharmaceutical corporations such as Novartis, Dr. Reddy's Laboratories, Glenmark Generics, Almirall Ranke, UQUIFA, Actavis, Teva, Egis, and PHF. Since 2011, it has been supplying anti-tuberculosis medicines to the World Health Organization.
Patron of the University of Latvia
Since 2012, Olpha has held the status of silver patron within the University of Latvia Foundation. The company supports pharmacy students at the Faculty of Chemistry and Medicine by providing scholarships and sponsors events related to exact sciences.
The firm operates representative offices across Ukraine, Tajikistan, Albania, Armenia, Kazakhstan, Kosovo, Uzbekistan, and Mongolia; maintains subsidiaries in Latvia, Lithuania, Turkey, Azerbaijan, and Kyrgyzstan; and collaborates with contracted agents in the USA, Serbia, Turkmenistan, Moldova, Sweden, and Southeast Asia.
Olpha exports its products to over 60 countries globally, with export sales constituting nearly 90% of total revenue.
History
On 4 December 1965, construction approval was granted by the Latvian SSR Council of Ministers for establishing a chemical-pharmaceutical plant in Olaine. Building commenced in 1968, culminating in the first synthesis of furagin on 10 October 1972, marking the operational launch of Olaines ķīmiski-farmaceitiskā rūpnīca (Olaine Chemical-Pharmaceutical Plant).
By 1976, it had become the leading manufacturer within the Latvbiofarm association, supplying active chemical substances and intermediates throughout the Soviet Union. In 1980, production expanded to include fifteen synthesized products along with finished pharmaceutical forms.
Following Latvia’s independence in 1991, Olainfarm shifted its focus towards developing key synthesis lines—such as adamantine and quinuclidinone derivatives—aimed at Western markets. The state enterprise was privatized in 1997, transitioning into a joint stock company with shares listed on the Riga Stock Exchange’s secondary list.
In 2001, successful audits by Cilag (Switzerland), Johnson & Johnson (USA), and Sanofi (France) enabled Olainfarm to enter global active ingredient markets. The company obtained U.S. FDA certification in 2002.
Between 2003 and 2004, extensive facility renovations were carried out to comply with EU Good Manufacturing Practice (GMP) standards. On 30 July 2004, Olainfarm was awarded its GMP certificate, signifying a new era of growth.
In 2005, shareholders increased fixed capital by three million Lats to reach 13.25 million Lats. By 2006, Olainfarm shares were included on the Baltic Main List; its antiviral medication Remantadīns® was registered in Poland.
The company received recognition from the Baltic Stock Exchange for best investor relations online in 2007 and established a representative office in Vietnam in 2008, launching an intensive sales promotion campaign.
In 2009, NASDAQ OMX Riga acknowledged Olainfarm for achieving a 160% share price increase—the highest growth recorded on the exchange that year.
New representation offices were opened in Serbia and Tajikistan during 2010; Remavir®, an antiviral drug developed by Olainfarm, was first registered in Serbia.
By 2011, strong sales growth resulted in record profits and turnover; shareholders approved dividends amounting to 10% of previous year profits. Additionally, Olainfarm initiated development of its pharmacy chain Latvijas aptieka.
In 2013, Olainfarm acquired a controlling interest in Silvanols, a leading Latvian food supplement manufacturer.
The company was honored with the Export Champion Award by the Latvian Ministry of Economics and LIAA in 2014.
On 13 January 2015, Olainfarm opened a new pharmaceutical manufacturing facility following €9.6 million investment; this included production lines for nitrofurans, small-scale finished drug manufacturing capabilities, and a research laboratory.
On 20 January 2016, Olainfarm completed acquisition of Kiwi Cosmetics Ltd., an organic cosmetics producer. Later that month it received an award recognizing "Best 10-year performance" for share price appreciation and Baltic Market positioning improvement. On 12 May 2016, Tonus Elast Ltd., specializing in elastic medical products, was acquired.
On 13 July 2017, subsidiary Longgo was founded to market natural health products. On 21 July, Olainfarm became sole proprietor of LLC Olaines veselības centrs (renamed OlainMed in January 2018), providing outpatient healthcare services.
In 2017, Olainfarm earned recognition from the Employers' Confederation of Latvia as best employer within Riga region (an honor also awarded in 2015). Valērijs Maligins—the long-serving chairman and principal shareholder—passed away on 9 December 2017.
In 2018, Longgo merged with Silvanols; subsequently Longgo was deregistered on July 6.
On 6 May 2020, SIA Pharma Invest submitted a prospectus for a voluntary tender offer aiming to acquire a 10% stake in Olainfarm; Pharma Invest is owned predominantly by Reinis Martinsons (90%) with SIA Prudentia Private Equity Partners holding 10%.
On 17 June 2021, Juris Bundulis was appointed chairman of Olainfarm’s board amid partial management restructuring.
In January 2022, Olainfarm withdrew from public trading on the stock exchange.
The company's rebranding culminated in June 2024 with adoption of its new name: "Olpha".
Subsidiaries and affiliated entities
- Latvijas aptieka Ltd., specializing in pharmaceutical retail
- Silvanols Ltd., manufacturer of natural food supplement, medical devices, and over-the-counter medications
- Tonus Elast Ltd., producer of elastic medical supplies
- Rīgas Farmaceitiskā fabrika Ltd., creator of food supplements
Leadership and administration
Supervisory Council
- Jānis Buks – Chairman
- Andrejs Leibovičs – Member
- Roberts Tavjevs – Member
- Vadims Telica – Member
- Sergejs Korņijenko – Member
Management Board
- Juris Bundulis – Chairman
- Andris Jegorovs – Member
- Jānis Leimanis – Member