The new production unit for Final dosage forms will be ready in the end of 2008. Its planned production capacity will be 2 billion tablets and capsules per year. The prospective production unit will increase the Grindeks final dosage form production at least twice that will give an opportunity to expand Grindeks products in the fast growing markets of Asia. Last year the regulatory services agreements for registration with China and Turkey were concluded for distribution in these countries.

The new production unit will cost 7.5 million lats, 5 from which are planned to be invested in projecting and 2.5 in the development of the manufacturing infrastructure.

J.Romanovskis, the Chairman of the Board points out: “The increasing inflation has affected the realization of the project just a little bit, because the most part of the equipment was bought in the Western Europe, where its prices are stable. In its turn, the company is protected from the rise in prices for construction by the agreement, where the total expenses are defined, including the rise in prices for construction, and the remuneration for the construction company is independent from the total expenses.

The project is realized by the company „RBS Skals”, chosen by the tender procedure. It is planned that the new production unit will start its work of full value till the end of 2008, but the storehouse and the offices in the new building will available for use already this spring.

JSC Grindeks is the leading pharmaceutical company in Baltic States, specializing in the research, development, manufacturing and sales of heart and cardiovascular, central nervous system and anti-cancer medications. A range of Grindeksproducts 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.

Grindeks concern consists of four subsidiary companies in Latvia, Estonia and Russia as well as ten representative offices. Products of the company are exported to more than 40 countries. Main markets are the Baltic States, Russia and CIS countries, Japan, USA. Grindeks shares are listed in the Official List of Riga Stock Exchange.

Further information:

Laila Klavina
Manager of the Communications Department
JSC Grindeks
Phones: 7083370, 29256012
e-mail: laila_klavina@grindeks.lv