Riga, Latvia, 2014-06-05 12:01 CEST (GLOBE NEWSWIRE) -- JSC “Grindeks” informs that its new Quality Control Laboratory was ceremonially opened today, on 5 June; it is one of the most advanced laboratories in the Baltics and meets world-class standards. The opening ceremony was attended by Prime Minister of Republic of Latvia Health Laimdota Straujuma, JSC “Grindeks” Chairman of the Council Kirovs Lipmans and JSC “Grindeks” Chairman of the Board Juris Bundulis, along with business partners and other guests.
The project was implemented in order to increase the productivity of microbiological and other analyses at the Quality Control Laboratory. Total project investments constituted 2.4 million euros, with 2.03 million euros in construction and 0.4 million euros in laboratory equipment and technical supply. The project was financed by the company’s funds.
The new laboratory will perform analyses of pharmaceuticals and develop and validate analytical methods in accordance with the Good Manufacturing Practices and ISO 9001, ISO 17025 and ISO 14001 standards.
JSC “Grindeks” Chairman of the Council Kirovs Lipmans: “Since 2002, investment in developing “Grindeks” has been substantial. We have invested a total of more than 70 million euros in developing our infrastructure and upgrading to state of the art technology, which has boosted the company’s operation and performance considerably. Today, we have completed the expansion and modernisation of our Quality Control Laboratory, which has been one of the most ambitious investment projects in quality control for “Grindeks”. The new laboratory will reinforce our company’s position and enhance the competitive performance.”
Having expanded its quality control range, “Grindeks” will also provide analytical services to other companies in Latvia and abroad – required analyses of tablets, capsules, salves, gels, syrups, injections, active pharmaceutical ingredients, as well as validation of technology and cleaning, serial control and release of pharmaceutical products to EU and CIS markets.
JSC “Grindeks” Chairman of the Board Juris Bundulis: “As a pharmaceutical manufacturer, we are aware of our important mission to take care of people’s health – for this reason, the company has been continually improving its quality performance. Pharmaceutics is an industry where quality requirements become more demanding each year, and by opening the new Quality Control Laboratory we are going ahead of the curve. Furthermore, we now have the opportunity to offer our services to other businesses, both local and foreign.”
With the project fully implemented, the total area of the Quality Control Laboratory is 1670 m² (755 m² of which were renovated). The laboratory now features a highly advanced automated control system for controlling the indoor microclimate and operation of utility systems, which will yield considerable energy savings. State of the art equipment will ensure that lab analyses are conducted in a convenient, safe, efficient and environmentally friendly manner.
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 as representative offices in 13 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 25 active pharmaceutical ingredients.
Products of the company are exported to 59 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, the Netherlands, Japan and the U.S.
To increase production capacity and develop infrastructure, since 2002 the company has accomplished many significant investment projects, investing 70.7 million euros over the years.
JSC “Grindeks” shares are listed on the Official List of “NASDAQ OMX Riga”. Major shareholders of JSC “Grindeks” are Kirovs Lipmans – 33.29%, “AB.LV Private Equity fund 2010” – 22.66%, Anna Lipmane – 16.69%, “Swedbank” AS Clients Account (nominee account) – 10.47%.
More information about the company – www.grindeks.lv/en/
Follow “Grindeks”: Twitter.com/AS_Grindeks ; Youtube.com/GrindeksLV
Further information: Laila Kļaviņa Head of the Communications Department, JSC “Grindeks” Phones: (+371) 67083370, (+371) 29256012 Fax: (+371) 67083505 laila.klavina@grindeks.lv
