Olainfarm To Export Chemicals To Novartis UK

January 2007 | Company News Alert

Latvian firm Olainfarm, in partnership with Swiss affiliate Jucker Pharma, is to supply US$1.5mn of chemical intermediates to Novartis Grimsby, a UK branch of Switzerland's largest drugmaker, Novartis. Chemical intermediates are used to produce active pharmaceutical ingredients, which are then used to manufacture finished forms of medicines. The deal will have a positive impact on the country's pharmaceutical trade balance, but BMI is maintaining its forecast due to small size of the 6-month contract. In 2006, we estimate that Latvia exported US$93mn of pharmaceuticals and by 2010, BMI expects this figure to increase to

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