The Latvian pharmaceutical company Olpha continues to work intensively on developing its product portfolio and expanding its exports in the European Union (EU). At the end of January, the company submitted a new generic medicine for the treatment of type 2 diabetes for registration in the Baltic States, Slovakia, Poland, Germany, Italy and France, while in the Czech Republic and Spain the process started as early as November 2023. In total, 38 new medicines have been submitted for EU marketing authorisation in different therapeutic groups.

Meanwhile, three new Olpha medicines - one in cardiology, one in oncology and one in urology - are already available to patients in the Baltic States from the end of 2024. With these new medicines, Olpha also hopes to make a broader contribution to preventing mortality. For example, cardiovascular diseases cause around 17.9 million deaths worldwide each year, accounting for around 32% of all deaths, while oncological diseases cause around 10 million deaths annually, making it the second most common cause of death worldwide.

According to the company's development plan, at least 20 new generics will be launched in the EU and UK this year and next. Since the shareholder change at the end of 2021, Olpha's investment in developing its product portfolio will exceed €50 million by the end of 2025. In total, at least €100 million is planned to be invested over five years to strengthen the company's competitiveness and expand its product range.

“We continue to invest heavily in the growth of the company, with a targeted expansion of our presence in Western European markets. The generics segment, where we are developing our new products, is important both for patients and for the healthcare system as a whole. Every new generic product from local companies that enters the market does several important things. It creates price competition, increases patient access and choice, reduces dependence on global supply chains, strengthens the local pharmaceutical industry and thus the healthcare system as a whole. In order for local pharmaceutical companies to thrive and thus contribute to all Latvian patients, we need to start looking at medicines from Latvian producers in the same way as other local producers and products. That is to say, if given a choice, we prefer to choose local. We will be better able to get out of the recession if we stand in solidarity with local companies,”
says Juris Bundulis, Chairman of the Board of Olpha.

Around 100 new medicines are currently being evaluated to expand Olpha's product portfolio, while more than 50 new products have been approved for development and inclusion in the product portfolio, and are being submitted for registration in various EU markets in accordance with all regulatory requirements.

“The Latvian pharmaceutical industry is one of the most export-oriented industries producing high added value products. The industry plays a strategic role not only in the economy, but also in promoting public health. Every new medicine we bring to the market is a significant benefit for Latvian patients, providing more choice and creating competition in the domestic market, where foreign manufacturers currently account for around 95% of the total medicines market. By expanding the supply of domestic manufacturers on the market, we are also strengthening Latvia's ability to respond to emergencies, ensuring that patients have uninterrupted access to medicines and treatments,”
emphasises J. Bundulis.