Last week, Viesturs Kleinbergs together with the team from the Riga Investment and Tourism Agency visited the “Riga Company of the Year 2025” laureate in the life sciences sector — Novartis Baltics. Riga is proud of its strong and growing life sciences ecosystem, and meetings like this are an important step in strengthening collaboration with global innovation leaders.
About the company
Novartis Baltics has been operating in Latvia since 1997 and is currently represented as SIA “Novartis Baltics” — part of one of the world’s largest pharmaceutical companies.
The company’s mission is to reimagine medicine to improve and extend people’s lives. By leveraging innovative science and technology, Novartis addresses some of the most complex healthcare challenges, develops breakthrough treatments, and works to make them accessible to as many people as possible.
(2).jpg)
As highlighted by the Mayor of Riga, Viesturs Kleinbergs:
“Riga is proud to be home to globally recognised biomedicine companies such as Novartis. Their presence here not only strengthens our economy but, more importantly, contributes to better health outcomes for our residents. After our recent discussions, I clearly see strong potential for closer cooperation between the city and the sector – from advancing digital health solutions to improving access to innovative treatments. By working together, we can build a healthier, more resilient Riga and ensure that our people benefit from the latest developments in medicine and care.”
(1).jpg)
What recent investments has Novartis made and how do these activities contribute to your wider global work?
Novartis has made substantial investments in Latvia, including digital health pilots for breast cancer, multiple sclerosis, and cardiovascular risk management, as well as support for health education among healthcare professionals and patient organisations, and clinical trials in cardiovascular, oncology, autoimmune, and neurological diseases. In 2024, Novartis contributed €18.7 million directly to Latvia’s GDP, 21% of this in R&D, and generated €29.4 million in additional value through improved patient and caregiver productivity[i] - figures expected to be surpassed in 2025.
The company also attracts global talent to Latvia, develops local talent for regional roles, and prioritises employee wellbeing.
Novartis is recognised as a leader in innovative medicines in Latvia, collaborating with hospitals and digital health startups to improve patient care and outcomes. These local initiatives are integral to Novartis’ global mission to reimagine medicine, accelerate clinical research, and drive digital health innovation worldwide.
(1).jpg)
Which global trends in healthcare and biomedicine are influencing your strategy, and how might they shape Novartis’ future plans in Latvia?
Global trends such as digital health, personalised medicine, and data-driven care are shaping Novartis’ strategy in Latvia. Every euro invested in healthcare delivers a fourfold return to the economy[ii].
However, Latvia faces significant challenges: health spending per capita in Latvia is less than half the EU average, and out-of-pocket payments account for over 35% of total health expenditure[iii], among highest in the EU, limiting access to timely and innovative care. Also, Latvian patients need to wait in average 642 days[iv], nearly two years, to access innovative treatment and only a fraction of new therapies are available compared to Western Europe.
These barriers - unpredictable pricing, delayed access, and complex regulatory frameworks - discourage investment and slow the introduction of new therapies.
Novartis supports Latvia’s efforts to strengthen sustainable healthcare financing, reward innovation, and streamline access pathways, aiming to help Latvia close the gap with leading EU countries and position itself as a regional leader in life sciences, driving both improved health outcomes and economic growth.
(1).jpg)
Why do you see Latvia as an attractive place for investment in the biomedicine sector?
According to the 2025 Life Sciences & Health Benchmark, which analysed 32 countries, Latvia’s healthcare system ranks 9th[v] for quality and reliability, providing a solid foundation for innovation despite the country’s overall lower position (29th out of 32)[vi] for life sciences business climate.
Novartis’ experience in Latvia demonstrates that partnerships with local hospitals, digital health startups, and academia can deliver impactful solutions and drive sector growth. The company’s investments have also contributed to job creation, talent development, and the introduction of innovative therapies, reinforcing Latvia’s role as a regional hub for life sciences.
While Latvia’s digital infrastructure currently ranks 22nd[vii], the sector is poised for rapid improvement with adoption of the Digital Health Strategy 2029, establishment of the Digital Health Centre in 2025, and the anticipated adoption of secondary data use. These developments are expected to accelerate research, innovation, and real-world evidence generation, making Latvia an increasingly attractive destination for biomedicine investment.
(1).jpg)
[i] Social, Environmental and Economic Impact Valuation results for Novartis in Latvia 2024.
[ii] EFPIA. Europe’s Choice. Available at: https://www.efpia.eu/europes-choice/ (accessed on 20 January 2026).
[iii] Eurostat. Out-of-pocket expenditure on healthcare. Available at:
https://ec.europa.eu/eurostat/databrowser/view/tepsr_sp310/default/table?lang=en (accessed on 20 January 2026).
[iv] EFPIA. EFPIA Patients W.A.I.T. Indicator 2024 Survey. Available at: efpia-patients-wait-indicator-2024-final-110425.pdf (accessed on 20 January 2026).
[v] KPMG and AmCham Netherlands. The future of the sector life sciences in the Netherlands. Results of the global LSH climate in 2025 benchmark. Available at: https://www.amcham.nl/sites/default/files/2025-08/250827-publication_amcham_benchmark_final_english.pdf (accessed on 20 January 2026).
[vi] Ibid
[vii] Ibid