EU – Baltic States, Lithuania, Markets and Companies, Medicine

Moreover, Jelfa, Sanitas' Polish subsidiary, may manufacture products designated for Persian Gulf countries as it obtained a respective license last year, informs BNS.

"Jelfa has established a representative office in Bulgaria in an attempt to strengthen its positions on the market. The growth in sales should be the fastest in the region of Slovakia, the Czech Republic, Hungary and Bulgaria due to continuous introduction of new products to the market. A possibility to establish offices in Latvia and Romania is being considered at the moment," Sanitas said in its audited 2008 report.

Following several checks last year Jelfa obtained a license enabling it to manufacture products for Persian Gulf countries and certificates stating that the company's sterile production complied with the requirements in force in the US.

Meanwhile, Slovakia's Hoechst-Biotika invested into upgrade of manufacturing last year as it sought an approval of Latvia's Grindex for the manufacturing of products supplied by the Latvian company to Ukraine.

Lithuania's investment company Invalda owns 25.67% of Sanitas, while Citigroup Venture Capital International Jersey and Baltic Pharma hold a 37.38% in the pharmaceutical company quoted on the Main List of the NASDAQ OMX Vilnius Stock Exchange.