JSC “Grindeks” informs that the company has submitted its Corporate Social Responsibility Report of 2011 to “NASDAQ OMX Riga”. Corporate Social Responsibility policy of “Grindeks” is closely in line with the ten principles of the UN Global Compact that are related to human rights, labour rights and the environment, and emerges from the United Nations Universal Declaration of Human Rights, the International Labour Organisation’s Declaration on Fundamental Principles and Rights at Work adopted in 1998, as well as the Rio Declaration on Environment and Development adopted in 1992.

Taking into account the UN Global Compact principles, Corporate Social Responsibility Report of “Grindeks” is performed in five main directions:

• PATIENT
• SOCIETY
• EMPLOYEE
• BUSINESS ENVIRONMENT
• QUALITY and ENVIRONMENTAL PROTECTION

“Grindeks” encourages the development of society and involves into the dialogue with patients and healthcare professionals. In its turn, acknowledging the responsibility for the health of consumers and the company’s product quality, “Grindeks” adheres to the principles of the Corporate Social Responsibility and the standards of “Good Manufacturing” by providing high quality in the product manufacturing and accomplishing all manufacturing processes in the environmentally friendly way. Core value ​​of the company is its employees; therefore “Grindeks” takes care of a social welfare, health protection, work safety, professional and career development of the employees. As a leader in the pharmaceutical market of the Baltic States “Grindeks” engages more actively in the promotion of ethical business environment, and will further popularize high ethical standards and stand against corrupt activities in the pharmaceutical and chemical industry.

Chairman of the Board of JSC “Grindeks” Juris Bundulis: “Social responsibility policy of “Grindeks” is very rich in tradition, and it is implemented every day, in every aspect of our business activities. And there are things to be proud of – the close connection with education and science, as well as the support that has been provided by the “Grindeks” fund “For the Support of Science and Education” for several years; quality accomplishment, improving the quality monitoring processes annually, as well as the numerous society support projects. Latvia is a “green” country, and “green” thinking and awareness of “Grindeks” manifests in its respect for nature. We are pleased with our achievements in the environment protection, for example, the efficiency of industrial sewage purification improves every year and the results achieved are close to the best available technology indicators globally.”

In the foreground of the pharmaceutical business is a human being and his health, therefore as a priority of Corporate Social Responsibility in 2012 is a PATIENT. “Grindeks” is involved in educating patients on health care issues and supports public health promotion.

“Grindeks” Corporate Social Responsibility report of 2011 is attached.

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 representative offices in ten 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 50 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. In 2010 the Ministry of Economics of Republic of Latvia and the Investment and Development Agency of Latvia awarded “Grindeks” as the most export potential company of Latvia.

During the last years the company realized many considerable investment projects in purpose to increase production capacity and develop infrastructure and invested 32.7 million lats within five 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” – 10.94%, “Swedbank” AS Clients Account – 8.28%. 

More information about the company – www.grindeks.lv/en/

Follow “Grindeks”:

Twitter.com/AS_Grindeks; Youtube.com/GrindeksLV; Draugiem.lv/grindeks

Further information:

Laila Kļaviņa
JSC “Grindeks” Head of the Communications Department
Ph: 67083370, 29256012
Fax: 67083505
E-mail: laila.klavina@grindeks.lv