Published: 2013-04-03 09:09:25 CEST
Interim report (Q1 and Q3)

“Grindeks” turnover continues to grow

Referring to the information published by the BNS news agency, “Grindeks” confirms that, in accordance to the Group's annual budget of 2013 and the plan's performance during the first two months, compared to the same period of 2012, has been successful, reaching a 5% increase in turnover. As reported previously, the company plans to reach the turnover of approximately 100 million lats and profit of approximately 12 million lats.

“Grindeks” specializes in the heart and cardiovascular, CNS and anti-cancer medication therapeutic groups, but the company also has focused on other therapeutic directions. The registration of antimicrobial and other medications has been started in several CIS countries.

The company informs that it continually assesses export opportunities to the new markets. Currently it is negotiating with potential partners on exporting its products to Southeast Asian region.


About “Grindeks”

“Grindeks” is the leading pharmaceutical company in the Baltic States. Its main fields of action are: research, development, manufacturing and sale of original products, generics and active pharmaceutical ingredients. The Group of “Grindeks” consists of four subsidiary companies in Latvia, Estonia and Russia, as well as representative offices in 11 countries.

“Grindeks” specializes in the heart and cardiovascular, CNS and anti-cancer medication therapeutic groups. A range of products covers a successful combination of original products and generics, with the original products Mildronate® and Ftorafur® and more than 100 forms of effective and safe generics included therein. Currently “Grindeks” produces 22 active pharmaceutical ingredients.

Products of the company are exported to 55 countries and its export comprises more than 95% of the total turnover. The main markets are: Russia and other CIS countries, the Baltic States, Germany, the Netherlands, Japan and the U.S.

To increase production capacity and develop infrastructure, since 2002 the company has accomplished many significant investment projects, investing 45.6 million lats over the years.

JSC “Grindeks” shares are listed on the Official List of “NASDAQ OMX Riga”. Major shareholders of JSC “Grindeks” are Kirovs Lipmans – 33.29%, Anna Lipmane – 16.69%, “AB.LV Private Equity fund 2010” – 11.38%, “Skandinaviska Enskilda Banken” (nominal holder) – 10.22%, “Swedbank” AS Clients Account (nominal holder) – 8.71%.

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         Further information:
         Laila Kļaviņa
         Head of the Communications Department, JSC “Grindeks”
         Phones: (+371) 67083370, (+371) 29256012
         Fax: (+371) 67083505