In order to develop the corporate infrastructure JSC Grindeks attracted funds from JSC Hansabanka in the amount of 6,5 million EUR. Grindeks plans to invest the raised funds into construction of new purification systems and further modernisation and development of production infrastructure.

As admits Chairman of the Board of JSC Grindeks Jānis Romanovskis: ”In order to secure the increasing production capacity and increasing demand for Grindeks’ medicines, invariably high quality of the products and environmental safety and protection, we continue implementation of the investment program into development of the corporate infrastructure – we will invest funds to production development and will begin construction of our purification system soon.”

Company’s gross profit for the first half of 2007 reached 13.9 million lats, which by 21.4% exceeds that of the same period in 2006. Net profit for the first half of the year 2007 amounted to 3.48 million lats. Turnover of the final dosage form medicines is growing, in the first six months of the year 2007 Grindeks sold final dosage forms more than for 23.44 million lats, which is 23% more than that of the corresponding period in the previous year.

Grindeks is the leading pharmaceutical company in the Baltic States specializing in the manufacturing and sales of heart and cardiovascular, central nervous system and anti-cancer medications. Its concern consists of four subsidiary companies in Latvia, Estonia and Russia as well as ten representative offices. Products of the company are exported to more than 40 countries. Main markets are the Baltic States, Russia and other CIS countries, Japan, USA. Grindeks shares are listed in the Official List of Riga Stock Exchange.

Ilze Kreicmane
Acting Head of Communications Department of JSC Grindeks
Tel. 7083336; 7083275
GSM: 26466681
e-mail: ilze.kreicmane@grindeks.lv