Exporters

"Olainfarm RUS" profit tripled in 2023

The profit of Olainfarm RUS, the Russian subsidiary of JSC Olainfarm, increased by 272% in 2023 and was 55 million rubles, or slightly more than 500 thousand euros. The awareness of the company has also grown. It has reached 771 million rubles or less than 8 million euros.

This is evidenced by the company's own published data to the Russian financial services, which were found by the portal Namelo.lv

The financial indicators of Olainfarm RUS, the Russian subsidiary of JSC Olainfarm, show rapid growth since the Russian invasion of Ukraine. They also grew in 2022. Then the revenue increased threefold and reached 6.7 million euros, profit - 140,000.
However, to the Minister of Health Hossam Abu Meri, representatives of Olainfarm have claimed that the trade in medicines in Russia is gradually being reduced and will be completely stopped in the next two years.

The portal has also found out that the company "Olainfarm" started cooperation with the Russian charity "Children - Butterflies" in 2023.

The head of this public organization, Alona Kuratova, says in public interviews that she received a grant from the President of the Republic to carry out activities in the territories occupied by Russia in Ukraine.

"Yes, the new territories are new challenges for us. We have been in close communication with the medical community over the past year, who have a huge demand for expertise. Now we received a grant from the President's Grant Fund for the realization of this project, " says Kuratova.

The organization "Children - Butterflies" has a contract with the Ministry of Health of Russia, which provides money to the foundation. Funding for the fund is also provided by Russian regional administrations. Also, Kuratova has been involved in the charity forum Bestistiva loks created by President Putin, which is led by Alexander Tkachenko, an Orthodox priest appointed by the order of the Russian dictator. In the supervisory board of the fund, Putin has appointed his representative in matters of children's rights, Maria Lvova Belova, who at the same time is waiting for the international tribunal in The Hague for crimes against humanity, organizing the removal of children from the occupied part of Ukraine.

Kuratova is used by the Russian services in public unification activities. She has been a member of the Public Chamber of Russia. This organization participated in the organization of pseudo-referendums in Zaparozhia and Donbas regions.

The Kuratova charity also has private donors. She herself is proud of a million-dollar grant from oligarch Alisher Usmanov, has been involved in the training programs of the Vladimir Potanin Charitable Foundation. And since last year, the public organization "Children - Butterflies" has a new cooperation partner - the Russian company Olainfarm RUS, which is a subsidiary of the Latvian joint-stock company Olainfarm and deals with the marketing of medicines produced in Olaine in Russia.

Olainfarm's cooperation with Children - Butterflies was evidenced by an entry on the website Olainfarm.ru. It is explained there that Olainfarm helps to collect donations for this organization using a special drug marketing system Doctor's Academy. This educational program was created by the Olainfarm company together with the Association of Young Medical Specialists of Russia.

Tkachenko, the head of the Circle of Kindness fund of the Russian President's Foundation, with whom Kuratova, the cooperation partner of Olainfarm from the "Children - Butterflies" charity organization, works, ensures that European medicines can arrive in Russia without hindrance.

Aleksandrs Tkachenko, head of the "Circle of Kindness" organization founded by the order of the Russian president: "In March, we saw the concerns of pharmaceutical distributors who refused to sign contracts during the price increase. These problems are being addressed, and the foundation is investing enormous energy so that there is no interruption in supplies.”

Olainfarm's roots in Russia are deeper than previously thought. Not only does it market the drug, but it has also paid a Russian company to trademark the drug it manufactures, which it turns out the company did not own.

Former chairman of the board of Olainfarm, Milana Beļeviča: And I can say that in the situation at that time, I found that in reality the property rights to some trademarks do not belong to the factory, but to others registered in Russia.

LTV's 1:1 program, the chairman of the company's Council, Jānis Buks, expressed his belief that the drugs produced in Olaine do not get to Russian soldiers. However, it is impossible to verify this, because the procurement of drugs for the Russian army is secret. Administrations of Russian regions are allowed to purchase medicines on an ongoing basis. In addition, drugs can also enter the front line by accident. In pharmacies the "Z patriots" of Russia organize herb collection campaigns.