JSC Grindeks informs that on 17 August 2010 a senior management meeting of Grindeks and the Latvian Institute of Organic Synthesis (IOS) took place, during which both sides agreed on closer cooperation in new product development.

During the meeting issues on development and initiation of commercialization process of various patent-protected and generic products were overviewed, as well as an agreement on the involvement of IOS in the clinical trial program of Mildronate® in China was reached.

Chairman of the Council of the JSC Grindeks Kirovs Lipmans: “Combining international experience of Grindeks in the pharmaceutical sector and the high scientific potential of IOS, we have jointly agreed on closer cooperation. The biggest benefit for Grindeks will be new, promising and effective medicines.”

Director of the Latvian Institute of Organic Synthesis Ivars Kalviņš: “The meeting was fruitful – development and potential scenarios of implementation and registration of new original as well as generic medications were discussed. We have mutually agreed on both the areas of cooperation, and also on concrete action plan and deadlines.”

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 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, the 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
www.grindeks.lv