JSC Grindeks has been awarded the „Baltic Corporate Excellence Award 2008” as the best Latvian company listed in the Baltics. The award was given for business successes and readiness to challenge in the dynamic business environment.
„Baltic Corporate Excellence Award 2008” was awarded based on the results of evaluation made by CE Services, a financial analysis company, and CE Asset Management, its partner operating in Switzerland. This valuation was aimed to elect the most successful listed company in the Baltics and every country individually based on their historic financial results and success of business model, and to encourage other listed companies to improve their transparency, financial results and other aspects to become an investment-attractive object.
JSC Grindeks was recognised the most successful company in Latvia leaving behind such companies as Latvijas Gāze and Latvijas Kuģniecība. In general in the Baltics, Grindeks is the sixth most successful company in valuation of its business model. AS EEsti Telekom, an Estonia-based telecommunication company was recognised as the most successful listed company in the Baltics and in Estonia, in turn, AB TEO LT, a telecommunication company, was recognised as the most successful company in Lithuania.
In general, there have been evaluated 32 companies. Valuation of every company was based, in principle, on the corporate historic development: 80% of analysis has been devoted to financial results, 10 % – to corporative management efficiency and 10% – to success of the chosen business model.
Overview of JSC Grindeks
JSC Grindeks is the leading pharmaceutical company in the Baltic States. Its main activity is research, development, production and sales of original products, generics and active pharmaceutical ingredients. Grindeks specializes in the heart and cardiovascular, CNS and anti-cancer medication therapeutic groups.
A range of Grindeks products covers a successful combination of original products and generics. It includes the original products Mildronate® and Ftorafur® and more than 100 forms of effective and safe generics.
The holding company of Grindeks consists of four subsidiary companies in Latvia, Estonia and Russia. It has 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 CIS countries, Japan, the USA. JSC Grindeks shares are listed in the Official List of Riga Stock Exchange.
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