Referring to the information published in Latvian media, which states that JSC “Grindeks” plans to move its manufacturing outside Latvia, we explain that the company’s management is examining various options to increase the manufacturing capacity. This includes starting up manufacturing in other countries or manufacturing expansion in existing “Grindeks” Group’s manufacturing units.
Decision has been already made on a new ampoule manufacturing line installation at “Grindeks” subsidiary “HBM Pharma” in Slovakia, thus increasing injection form medication manufacturing capacity up to 130 million ampoules per year.
Using its own financing, the Group is planning to invest at least 4 million euro in 2017.
Other decisions have not been adopted, as well as moving of manufacturing units operating in Latvia to other countries is not considered.
About “Grindeks”
“Grindeks” is an international, vertically integrated pharmaceutical company. The main fields of action are research, development, manufacturing and sales of original products, generics and active pharmaceutical ingredients. The Group of “Grindeks” consists of five subsidiary companies in Latvia, Estonia, Russia and Slovakia 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®. Currently “Grindeks” produces 24 active pharmaceutical ingredients.
In 2015, products of the company were exported to 70 countries, comprising 90% of the total turnover. The key markets include the EU countries, Russia and other CIS countries, the U.S., Canada, Japan and Vietnam.
To increase a production capacity and develop infrastructure, since 2002 “Grindeks” has accomplished many significant investment projects, investing more than 70 million euro over the years.
Further information: Laila Klavina Head of the Communications Department, JSC “Grindeks” Phones: (+371) 67083370, (+371) 29256012 Fax: (+371) 67083505 laila.klavina@grindeks.lv
