JSC "Grindeks" attracts money for infrastructure development


In order to develop the corporate infrastructure JSC "Grindeks" attracted funds
from JSC Hansabanka in the amount of 6,5 million EUR. "Grindeks" plans to
invest the raised funds into construction of new purification systems and
further modernisation and development of production infrastructure. 

As admits Chairman of the Board of JSC "Grindeks" Jānis Romanovskis: ”In order
to secure the increasing production capacity and increasing demand for
Grindeks' medicines, invariably high quality of the products and environmental
safety and protection, we continue implementation of the investment program
into development of the corporate infrastructure - we will invest funds to
production development and will begin construction of our purification system
soon.” 
Company's gross profit for the first half of 2007 reached 13.9 million lats,
which by 21.4% exceeds that of the same period in 2006. Net profit for the
first half of the year 2007 amounted to 3.48 million lats. Turnover of the
final dosage form medicines is growing, in the first six months of the year
2007 Grindeks sold final dosage forms more than for 23.44 million lats, which
is 23% more than that of the corresponding period in the previous year. 
"Grindeks" is the leading pharmaceutical company in the Baltic States
specializing in the manufacturing and sales of heart and cardiovascular,
central nervous system and anti-cancer medications. Its concern consists of
four subsidiary companies in Latvia, Estonia and Russia as well as ten
representative offices. Products of the company are exported to more than 40
countries. Main markets are the Baltic States, Russia and other CIS countries,
Japan, USA. Grindeks shares are listed in the Official List of Riga Stock
Exchange. 
 
Ilze Kreicmane 
Acting Head of Communications Department of JSC "Grindeks"
Tel. 7083336; 7083275
GSM: 26466681
e-mail: ilze.kreicmane@grindeks.lv