Latvia is an undeniable leader in biomedicine amongst three Baltic States. We are expanding and striving to be a significant player in the European Union in this area, as biomedical companies and organizations from Latvia have demonstrated dynamic growth in recent years.

Latvia’s biomedicine sector combines strong R&D capability, established manufacturing infrastructure, geographic and cultural proximity to eastern and western markets. We export our products to close and faraway places, including Japan, the USA, Canada, and many more. Skilled and highly competitive professionals are passionate about their work and science. Many of them are graduates of the world’s best universities. Also, we believe in constant improvements and further investments to raise our productivity. 

Main subsectors 
Personalised medicine, Environmental health, Biopharmacy, Translation medicine, Health systems, Digital health 

Fast facts

• Pharmaceutical and biotechnology industries in Latvia have a long history, rich legacy and know-how. Latvian chemists made significant, internationally recognized advancements in research already in the 19th century. You may have heard about the globally renowned medicine Meldonium (20th century).
• The chemical and pharmaceutical sector is currently ranked 3rd by turnover amongst manufacturing industries in Latvia and ranked 2nd by the total export amounts amongst other manufacturing industries in Latvia.

Industry statistics

• Pharmaceuticals compile 1.2% of total national exports. Latvia exports 75.7% of the manufactured chemicals and pharmaceutical products (2021).
• Our top export partners in pharmaceuticals are Russia (19%), Ukraine (14%), Belarus (10%) and Lithuania (9%). The export value to Lithuania reached almost 100 million euros in 2020.
• Out of the biomedicine portfolio, pharmaceuticals are the main export products, making up 33% of the total industry exports and turnover of 255 million euros in 2021.

Employment and education

• If you study chemistry and other life sciences in Latvia, the companies will fight for you and your skills! There are around 500 companies in the chemical and pharmaceutical industry in Latvia.
• Also, there will be a place for all enthusiasts of chemistry and biomedicine, as the number of employees in chemical and pharmaceutical companies is continuously increasing and currently exceeding 9k. 
• We always like to compete with our neighbours; that is our thing! We have more people working in the pharmaceutical industry than our neighbors – Estonia and Lithuania.

Industry leaders

• Grindeks specializes in heart and cardiovascular, central nervous system, and anti-cancer medications. Their range covers a successful combination of original and generic products, such as Mildronate® and Ftorafur® and more than 100 different generics. Currently, Grindeks produces 25 active pharmaceutical ingredients.
• PharmIdea is the only company in Latvia providing sterile and freeze-dried drugs manufactured at a world-class quality, granted by the GMP certificate and various successfully passed international quality inspections.
• MolPort was created in 2006 to help scientists accelerate drug discovery by streamlining locating compounds and their suppliers and handling the ordering process. Their goal is to help scientists focus on their research, not on searching and procurement.
• Silvanols Ltd. is a Latvian pharmaceutical company with expert knowledge in developing and producing food supplements, medical devices, cosmetics, and OTC medicine using natural ingredients for 25 years to bring the healing powers of nature to people all over the world.
• Olainfarm has 40 years of experience in medical, chemical, and pharmaceutical products and produces around 60 types of medicines and some 30 pharmaceutical agents.
• Latvian Biomedicine Research and Study Center is developing a prototype vaccine against Lyme disease. Latvia participates in a 1+ million genome initiative to facilitate personalized and data-based medicine development.
• Latvian Institute of Organic Synthesis is an inventor and co-inventor of 18 original approved drugs and more than 70 original preparation methods of known medicines.
• BGI is the world’s largest genome sequencing centre. It has built a genome sequencing production facility in Latvia and will develop an entire life science park.
• Biosan is one of the global leaders in the preparation and analysis of life science samples. Their equipment is used in hospitals, food and water laboratories, dairies, and wherever samples are prepared for conducting further analysis.
• Baltic Biomaterials Centre of Excellence – focuses on the development of patient-specific personalized solutions for bone regeneration. It includes biomaterial composition, geometry and bioactive compound delivery. 

Contacts

Vilis Zinkevičs

Deputy Head of Investment Promotion Division

Address: 2 Perses Street, Riga, Latvia, LV-1442
E-mail: vilis.zinkevics@liaa.gov.lv