Today, on 28 November 2012, in Riga, 53 Krustils Street, JSC “Grindeks” has solemnly unveiled a manufacturing unit of ointments and gels, which is one of the most modern in the Baltic States and meets world-class standards of pharmaceutical manufacturing. Altogether 2.5 million lats were invested in the manufacturing unit of ointments and gels, out of which the co-financing of the EU structural funds – 448.67 thousand lats. The investments are planned to be recovered within 2 years.

The opening ceremony of the manufacturing unit of ointments and gels has been attended by the Minister of Health of the Republic of Latvia Ingrīda Circene, Chairman of the Council of “Grindeks” Kirovs Lipmans, Chairman of the Board of “Grindeks” Juris Bundulis, Ambassador Extraordinary and Plenipotentiary of the People`s Republic of China to the Republic of Latvia H.E. Hu Yeshun, Ambassador Extraordinary and Plenipotentiary of the Republic of Belarus to Latvia H.E. Aleksandr Gerasimenko and “Grindeks” cooperation partners.

Chairman of the Council of “Grindeks” Kirovs Lipmans: “The future of the company cannot be imagined without investment and development projects! Today, investing 2.5 million lats, we have successfully concluded another investment project and we are unveiling a new manufacturing unit of ointments and gels. Thanks to this investment, the company will increase its productivity and production capacity. This will increase our competitiveness and in the near future will allow complementing our product range with new ointments and gels.”

Chairman of the Board of “Grindeks” Juris Bundulis: “The development of “Grindeks” is in the most direct way dependent on the policy of shareholders – to invest in the company`s development. This project is another example of “Grindeks” shareholders` interest in the the company`s sustainability. In the centre of our operations is the patient, and the new, world-class manufacturing unit of ointments and gels is an important incentive to find more and more efficient solutions for patients` health improvement.”

The manufacturing unit of ointments and gels is equipped with modern and high-powered technological devices that ensure convenient, safe, efficient and environmentally friendly production. In October this year, the new manufacturing unit received the Certificate of Good Manufacturing Practice from the State Agency of Medicines of Latvia. The new manufacturing unit will be able to produce up to 20 million tubes per year. In the new manufacturing unit of ointments and gels of “Grindeks”, there are new job positions created for 10 qualified operators and technical engineering specialists.  It is planned that the new manufacturing unit will provide also medication manufacturing for other companies according to their orders or to provide contract manufacturing services.

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 eleven 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” (nominal holder) – 10.22%, “Swedbank” AS Clients Account (nominal holder) – 8.58%.

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

Follow “Grindeks”:

Twitter.com/AS_Grindeks; http://Youtube.com/GrindeksLV

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

Project “Construction of manufacturing unit of ointments and gels” is co-funded by the European Regional Development Fund.