Today, on 9 July 2012, a cooperation agreement was concluded between Grindeks and the Latvian University on the long-term cooperation in scientific research, technology transfer, including cooperation in the project “Baltic Innovative Research and Technology Institute Infrastructure” (BIRTI).

Grindeks and the Latvian University plan to create a pharmaceutical research, development and production infrastructure, in the framework of which preclinical (safety and pharmacokinetics) and clinical studies, regulated in Latvia and the Baltic States (GMP, GLP, GCP), will be carried out, including bioequivalence studies for the pharmaceutical industry needs. At the same time, scaling-up, final dosage form, active pharmaceutical ingredient development and analytical structures will be made, which will deal with new synthesis method development, synthesis, and various physico-chemical studies, as well as active pharmaceutical ingredient and final dosage form technology development and optimization. During the cooperation, a platform and capacity for innovative, for example, biotechnological, pharmaceutical products will be developed.

One of the key benefits for the pharmaceutical industry will be rising of the overall competence level, because in the result of cooperation, professionals will be prepared according to industry demand, with a university degree in pharmacy, modern pharmaceutical technology, medical and biomedical fields.

Within the framework of the cooperation, Grindeks plans to make proposals on the necessary educational programs for the pharmaceutical industry and to participate in the provision of lecturers, internship placements and laboratory equipment for studies. For the operation of the newly created infrastructure, Grindeks also plans to provide funding and opportunities for scientists/researchers to tackle practical issues of the pharmaceutical industry.
The University`s participation in the project will be implemented through practical participation in the creation and operation of infrastructure, ensuring the quality of research performance, the collection and transfer of the results, as well as attracting funding.

Kirovs Lipmans, Chairman of the Council of Grindeks: “The pharmaceutical and chemical industry in Latvia is defined as a priority for the Latvian economy. In the global pharmaceutical market the competition is fierce, and strengthening our positions, the thing is not only about individual Latvian enterprises or institutions, and even not only about Latvia as a competitive country in the pharmaceutical market. Today we talk about Europe and its position in competition with America and Asia. Latvia is unique in that that here the national pharmaceutical industry has been preserved and it is developing successfully. Purposefully investing and working in the right direction, we can raise both the sector`s overall level of competence, and to create development-oriented, innovative and globally competitive infrastructure. R&D resources, which now as outsourcing are being purchased from foreign companies, are very big, and I am personally as the country`s patriot and businessman, interested that these resources remain in our country – they give a chance to advance in science, create innovative products and contribute to the overall Latvian citizens` welfare. Investments that we are going to invest in research, development and production infrastructure are estimated at many millions lats, and, undoubtedly – such an investment has a far-reaching future. The signed contract between Grindeks and the Latvian University is a summary of long talks, ideas and visions and commitment to jointly carry out scientific research and technology transfer in Latvia.”

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 and the Netherlands. In 2010 The Ministry of Economics of Republic of Latvia and 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 in 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%.

You are kindly invited to grindeks.lv to get to know more about our company!

Further information:

Laila Kļaviņa
Head of the Communications Department, JSC Grindeks
Phones: (+371) 67083370, (+371) 29256012
Fax: (+371) 67083505
laila.klavina@grindeks.lv