JSC Grindeks informs, that the Supervisory Council of the company has reappointed Vadims Rabsa, the Finance and Administrative Director, as the Member of the Board for another term of office – three years.

The reason for the reappointment – expiry of term of office on 13 October 2011.

The Chairman of the Board Janis Romanovskis and the Member of the Board Lipmans Zeligmans continue to work in the Board of Grindeks.

The Supervisory Council of Grindeks– Kirovs Lipmans, Chairman of the Council (ownership interests – 33.29%), Anna Lipmane, Deputy Chairman of the Council  (ownership interests – 16,69%), Uldis Osis, Member of the Council and Janis Naglis, Member of the Council and Ivars Kalvins, Member of the Council.

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 16 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%, “Skandinaviska Enskilda Banken” – 12.42%, “AB.LV Private Equity fund 2010” – 11.38%, “Swedbank” AS Clients Account – 6.87%.


Further information:
Laila Klavina
Head of the Communications Department, JSC Grindeks
Phones: (+371) 67083370, (+371) 29256012
Fax: (+371) 67083505
E-mail: laila.klavina@grindeks.lv