On Wednesday, October 2nd, The Public Health Subcommittee of the Social and Labor Affairs Commission of the parliament of the Republic of Latvia held a discussion meeting regarding the overview of the pharmaceutical industry in Latvia with a participation of representatives of the Ministry of Health, the Ministry of Economics and Latvian pharmaceutical manufacturers.

The key topics of the meeting were achievements, recognition and the socioeconomic input of the local pharmaceutical companies and the main issues obstructing the full growth opportunities of the industry.

Also, a significant part of the discussion was dedicated to the aspects of partnership/support efficiency with the government organizations, pointing out the need for tangible, decisive and productive planning and decision-making process, and the depending prognosis of the trends of future industry development.

Rigvir Group was represented by Chief Operating Officer Kristine Juckovica with a presentation on the progress of the holding company and the future of oncology industry, underlining the potential of application of oncolytic viruses, shift of the oncological paradigm (the age of the “one-size-fits-all” oncology therapy is ending) and the risks like spiraling, technology driven R&D costs, intensifying competition and the emerging pressure on healthcare budgets.