JSC „Grindeks” objects to the broadcasted information by “Nekā Personīga” on TV3, on September 20, 2009, that the price of the Mildronate in Latvia is double compared to price in other countries.

„Grindeks” takes notice, that for Latvian market Mildronate 250mg 40 capsules packages are not produced. The TV broadcast absolutely inconsiderately compared the price for 40 capsules packages in Ukraine with the price for Mildronate 250mg 60 capsules packages in Latvia. This is the main factor, which makes the difference. The other factor – in Ukraine medications are not imposed by Value added tax (VAT), conversely for medication in Latvia are applied 10% VAT rate.

„Grindeks” informs, that Mildronate 250mg 40 capsules package declared sales price for the Ukraine market is 3,16 lats for the package, whereas for Latvian wholesalers – 4,45 lats for Mildronate 250mg 60 capsule package.

Comparing in such a way the price of one Mildronate capsule in Ukraine is 0,079 lats, but in Latvia is 0,074 lats.

About “Grindeks”
“Grindeks” is the leading pharmaceutical company in the Baltic States. The main directions of its operation are research, development, manufacturing and sales of original products, as well as generics and active pharmaceutical ingredients. “Grindeks” specializes in the heart and cardiovascular, psychotropic and anti-cancer therapeutic groups of medications.
„Grindeks” concern consists of four subsidiary companies in Latvia, Estonia and Russia; as well as representatives and representative offices in 14 countries. Products of the company are exported to more than 40 countries and its export comprises more than 96% of the total turnover. The main markets are the Baltic States, Russia and other CIS countries, as well as Japan and USA. The shares of JSC „Grindeks” are listed in the Official List of „NASDAQ OMX Riga”.
Further information:

Laila Kļaviņa
Head of the Communications Department
JSC “Grindeks”
E-mail: laila.klavina@ grindeks.lv
Phones: +371 67083370, +371 29256012