Joint-stock company “Grindeks” informs that it has established a new anti-cancer final dosage forms’ manufacturing unit, in which 400 thousand lats have been invested. Production processes are organized in accordance with Good Manufacturing Practice and ISO quality standards, which guarantee safety and quality of the produced medications. The new manufacturing unit is equipped with modern and high-performance production facilities to provide convenient, safe, efficient and environmentally friendly manufacturing process. The manufacturing unit is located in the territory of “Grindeks”, Riga, 53 Krustpils Street.

“Grindeks” Chairman of the Council Kirovs Lipmans: “Every year, the company wisely invests in the development significant amount of money - about 10% of total turnover. Without such investments further growth of the pharmaceutical company is not possible. In the new manufacturing unit, a number of oncology medications, including our original product and one of the most important products of “Grindeks” - Ftorafur ® will be produced. Manufacturing unit’s capacity will be able to provide quantities of packages necessary for the market demand, likewise the new manufacturing unit will be also as a support for “Grindeks” to take the next step in the expansion of oncology product portfolio. I am sure that in the near future we will be able to talk about a positive return on investment.”

“Grindeks” Quality Director Dr. Juris Hmelnickis: “According to the legislative and regulatory requirements, cytostatic products - anti-cancer preparations – must be produced in separate, specially equipped facilities. The new manufacturing unit is established in compliance with both the Latvian and global norms, which is the most direct proof that the medication is safe and of good quality.”

Currently the product range of “Grindeks” includes three anti-cancer medications, of which the best known is the original preparation Ftorafur®, which is widely used in cancer chemotherapy. In 2010, sales of Ftorafur® reached 1.74 million lats, exceeding the results of 2009 by 19%. The main stable markets of Ftorafur® final dosage form are: Russia, Ukraine, Kazakhstan, Hungary and Belarus. In its turn, Ftorafur® substance for more than 30 years has been exported to Japan.

There are two new generic anti-cancer medications in the development stage, one of which is in the pre-registration phase.

Video on the new manufacturing unit can be seen: http://www.youtube.com/watch?v=FFQEQa3kLcw

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. Product portfolio of “Grindeks” consists of original products, generics and active pharmaceutical ingredients. “Grindeks” specializes in the heart and cardiovascular, CNS and anti-cancer medication therapeutic groups.

Group of “Grindeks” consists of four subsidiary companies in Latvia, Estonia and Russia, as well representative offices in ten 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: Russia and other CIS countries, the Baltic States, Germany and the Netherlands. 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
www.grindeks.lv