JSC Grindeks informs that today, on 21 September, the delegation of Japanese entrepreneurs is visiting the company. The visit is within the framework of the “Latvia Industrial Tour” organised by Investment and Development Agency of Latvia (LIAA) and Japan External Trade Organization (JETRO).

The purpose of this tour is to introduce Japanese entrepreneurs to the priority economic sectors of Latvia, which includes pharmaceutical industry.

Chairman of the Board of JSC Grindeks Juris Bundulis and other representatives of the company will participate in the meeting. Guests will be introduced to the operations of Grindeks and previous cooperation experience with Japanese companies. It is planned that the delegation will also visit the Active Pharmaceutical Ingredients Analytical Scale-up Laboratory and the new manufacturing unit of UDCA (ursodeoxycholic acid) that was opened last year.

Grindeks has cooperated with Japan for 40 years. First cooperation agreement was signed in 1972. Currently the company is cooperating with three Japanese pharmaceutical companies – “Taiho Pharmaceuticals”, “Daiichi Sankyo” and “Fujita”.

The sales volume to this country is at least 0.5 million euros each year.

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” (nominal holder) – 10.53%, “Swedbank” AS Clients Account (nominal holder) – 8.79%.

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

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