JSC Grindeks informs that today, on 29 March, the company is visited by the representatives of the European Commission, the Latvian Investment and Development Agency and the Latvian Finance Ministry. The purpose of the visit is to explore and see in person how one of the leading manufacturing companies of Latvia is successfully implementing projects that are co-financed by the EU Structural Funds.

The guests will visit in person the Analytical Scaling Laboratory of active pharmaceutical ingredients, which was established in 2007 with co-financing of the European Regional Development Fund of 1.5 million lats. The total investment amount was 3.2 million lats.

The guests will also see as the production unit of ursodeoxycholic acid is currently being built. The total volume of its investments is 6 million lats, of which the European Regional Development Fund co-finances 2.8 million lats. Establishment of the production unit will be completed this half year.

Chairman of the Board of JSC Grindeks Janis Romanovskis:

“The financial support for the pharmaceutical industry promotes the business and also serves as a direct incentive for the Latvian economy and exports. Research, development, manufacture and sale of active pharmaceutical ingredients and finished medications compose the core business of Grindeks, which is constantly and purposefully being developed. Therefore, the EU Structural Funds co-financing is very important as it helps to implement projects faster and cheaper.”

Grindeks has also received co-financing in other areas – participation in international exhibitions, staff training, etc.

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. 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 representative offices in ten 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: Russia and other CIS countries, the Baltic States, Germany and the Netherlands. 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
laila.klavina@grindeks.lv