JSC “Grindeks” informs that today, on 26 February, the company
has signed an agreement with Investment and Development Agency of
Latvia on co-financing of 2.8 million lats from the European
Regional Development Fund (ERDF) for construction of
Ursodeoxycholic acid (UDCA) manufacturing unit.
Last year “Grindeks” concluded a multi-degree and long-term
cooperation agreement with German pharmaceutical company “Marenis
Pharma” on delivery of UDCA substance. According to the agreement
“Grindeks” is going to deliver 30t of UDCA and that will increase
the export of “Grindeks” active pharmaceutical ingredients
significantly.
In order to ensure regular development and manufacturing of UDCA,
“Grindeks” has started construction of a new manufacturing unit. It
is planned to invest almost 6 million lats in the project in
total.
“Grindeks” Chairman of the Board Janis Romanovskis: “Financial
support to the pharmaceutical manufacturers is mutually beneficial
– on the one hand, it helps to develop business of the company and
on the other hand, it is direct incentive to the economy and export
of Latvia. Research, development, production and sales of active
pharmaceutical ingredients are one of the business directions that
we have purposefully developed during the last years. ERDF
co-financing is very useful in order to finish UDCA manufacturing
unit on time and to supply German partner with the necessary amount
of the substance.”
In the end of January “Grindeks” celebrated a ridgepole ceremony of
the new manufacturing unit, and now the building is already under
the roof. Concurrently with the constructions works in the new UDCA
manufacturing unit, collection of the first production equipment
and the installation works will start soon. Total area will be 1400
square meters. It is planned that production in the new
manufacturing unit will start in March next year. Production area
will provide 35 new work places.
On “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. “Grindeks” specializes in the heart and
cardiovascular, CNS and anti-cancer medication therapeutic
groups.
Group consists of four subsidiary companies in Latvia, Estonia
and Russia, as well representatives and representative offices in
fourteen 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, Japan, USA. JSC “Grindeks” shares are listed
in the Official List of “NASDAQ OMX Riga”.
Further information:
Laila Kļaviņa
Head of the Communications Department
JSC “Grindeks”
Phones: (+371) 67083370, (+371) 29256012
Fax: (+371) 67083505
e-mail: laila.klavina@grindeks.lv
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