The delegation of Japanese entrepreneurs visits JSC “Grindeks”

9/21/2012 2:56 AM EST

Grindeks
Company Announcement

The delegation of Japanese entrepreneurs visits JSC “Grindeks”

JSC “Grindeks” informs that today, on 21 September, the delegation of Japanese
entrepreneurs is visiting the company. The visit is within the framework of the
“Latvia Industrial Tour” organised by Investment and Development Agency of
Latvia (LIAA) and Japan External Trade Organization (JETRO). 

The purpose of this tour is to introduce Japanese entrepreneurs to the priority
economic sectors of Latvia, which includes pharmaceutical industry. 

Chairman of the Board of JSC “Grindeks” Juris Bundulis and other
representatives of the company will participate in the meeting. Guests will be
introduced to the operations of “Grindeks” and previous cooperation experience
with Japanese companies. It is planned that the delegation will also visit the
Active Pharmaceutical Ingredients Analytical Scale-up Laboratory and the new
manufacturing unit of UDCA (ursodeoxycholic acid) that was opened last year. 

“Grindeks” has cooperated with Japan for 40 years. First cooperation agreement
was signed in 1972. Currently the company is cooperating with three Japanese
pharmaceutical companies – “Taiho Pharmaceuticals”, “Daiichi Sankyo” and
“Fujita”. 

The sales volume to this country is at least 0.5 million euros each year.



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 eleven 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 22 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, the Netherlands, Japan and the U.S. In
2010 the Ministry of Economics of Republic of Latvia and the 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 on the Official List of “NASDAQ OMX Riga”.
Major shareholders of JSC “Grindeks” are Kirovs Lipmans – 33.29%, Anna Lipmane
– 16.69%, “AB.LV Private Equity fund 2010” – 11.38%, “Skandinaviska Enskilda
Banken” (nominal holder) – 10.53%, “Swedbank” AS Clients Account (nominal
holder) – 8.79%. 

More information about the company – www.grindeks.lv/en/

Follow “Grindeks”: Twitter.com/AS_Grindeks; Youtube.com/GrindeksLV




         Further information:
         
         Laila Klavina
         Head of the Communications Department, JSC “Grindeks”
         Phones: (+371) 67083370, (+371) 29256012
         Fax: (+371) 67083505
         E-mail: