JSC Olainfarm confirms that Chamber of Civil cases of the Supreme Court of Latvia in its ruling has partially satisfied the claim by JSC Grindeks to cancel the registration of trade marks MIDOLAT and МИДОЛАТ. Therefore it is now an obligation of JSC Olainfarm to destroy all the medicines and packaging, on which a graphic designation of Mildronāts, MIDOLAT and МИДОЛАТ. This has to be completed within one year after the ruling takes effect.
JSC Olainfarm does not produce either medicines or packaging with such designations since 2010, therefore this obligation poses no impact on performance of financial state of the company.
„Respecting worries of Grindeks about the trade mark of its flagship product, we have been producing and selling meldonium under trade marks of Vazonat, Vazomag, Zovanat and Meldonium Olainfarm for three years now,” says Salvis Lapins, Member of the Board of JSC Olainfarm. „We have registered trade marks on this metabolic medicine in 27 differrent countries. Sales and production volumes of this product have grown by 250% over the last three years making it s stable participant of our top 15 products team”.
Information prepared by:
Member of the Board
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