“Kalceks” celebrates its centenary with 5 times higher turnover in the first half of the year

One of the oldest Baltic pharmaceutical companies, Kalceks, which is celebrating its centenary this year, has rapidly increased its turnover and sales in Europe, Asia and elsewhere in the world in the first six months of 2020 in the amount of 24.6 million euros, the company’s representatives report. Compared to the first half of 2019, the turnover has increased 5 times or by 19.8 million euros. More than 80% of exports are made to European Union countries.

The success factor of recent years has been the right analysis, selection and implementation of products, as the development of a single drug takes up to five years, and registration procedures vary from country to country and region to region, determining both opportunities and risks for entry. Every year, 7-8 new medicines are added to the “Kalceks” product range. Such results are possible only by working together in a cohesive, purposeful team that is not afraid of challenges,

In a press release, Kirov Lipman, Chairman of the Council of Kalceks, said.

Egils Kopštāls, Chairman of the Board of Kalceks, points out: “This year the main thing for us is to maintain the current growth rates by developing and implementing new products in a 4-5 year cycle, which will allow us to continue the rapid and stable development in the foreseeable future. “Kalceks” products are currently available in Latvia and 53 other countries around the world, with which our plans do not stop. The focus is not only on increasing the number of Asian partners, but also on actively absorbing the markets of both Americas. We can compete with our products on a global level, so we must maintain our professional knowledge of the requirements in different countries. ”

Kalceks products are available in all major European markets – Germany, France, Spain, Italy, Great Britain, as well as other countries in the region, such as the Belgian pharmaceutical market conquered this year, a large part of the products also reach Israel and Denmark. Asia, the United States, Canada and other countries on the American continent are a priority in the future. 12 new countries were added in 2020 and the list will be expanded this year.

During the first wave of the pandemic, the company’s team was able to make quick and efficient decisions, which facilitated the easier registration of “Kalceks” drugs in several countries around the world, the company reports. Challenges included the sourcing and transportation of raw materials to production sites, as well as production rescheduling with the Group’s Slovak subsidiary HBM Pharma.

Since 2004, when the company’s turnover was one and a half million lats, it has grown rapidly, now, according to forecasts, reaching more than 40 million euros per year by the end of the year. In 2012, medicines were sold only in Latvia and Azerbaijan, but this year already in 53 countries around the world.

This year, “Kalceks” celebrates its centenary and in the next five years plans to ensure greater independence from external conditions and raw material producers, strengthening cooperation in the production of raw materials with the parent company “Grindeks”. Cooperation will also be strengthened in the production of finished drug forms. In 2020, “Grindeks” already started to produce “Kalceka” the first medicine in the form of an oral solution, which “Kalceks” has successfully started to export to Europe. It is also planned to further increase Kalceks’ large team of 40 people in order to be able to develop new and competitive products, focusing on employee training and growth within the company, the company reports.


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