JSC Grindeks informs that the recently unveiled UDCA active pharmaceutical ingredient’s manufacturing unit will increase the turnover. When a manufacturing unit of UDCA will work at full capacity, the UDCA turnover will increase to 10 million euros a year. In its turn, after the development and registration of the final dosage form during the next 2 – 3 years, the turnover could rise by 10 million euros more per year.
As announced, on 16 June in Riga, 53 Krusptils Street, JSC Grindeks unveiled UDCA active pharmaceutical ingredient’s manufacturing unit, which is one of the most significant investment projects of Grindeks. Manufacturing unit’s construction was started in 2009, after a multi-stage, long-term cooperation agreement on regular UDCA supply was concluded with the German pharmaceutical company “Marenis Pharma”. 6.34 million lats were invested in the construction of the new manufacturing unit, out of which 2.8 million lats was the co-financing by the European Regional Development Fund (ERDF).
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. Grindeks specializes in the heart and cardiovascular, CNS and anti-cancer medication therapeutic groups.
The Group consists of four subsidiary companies in Latvia, Estonia and Russia, as well representative offices in ten countries. 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. JSC Grindeks shares are listed in the Official List of “Nasdaq OMX Riga”.
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Project “Creation of Ursodeoxycholic Acid manufacturing unit with the necessary infrastructure” is co-funded by the European Regional Development Fund.