“Grindeks” appraises ointments manufacturing processes in “Tallinn pharmaceutical plant”

Responding to publications in media of March 20, 2009 “Grindeks” informs about
its development plans of daughter company in Estonia - “Tallinn pharmaceutical
plant”. 

In the background of worldwide financial and economical crises “Grindeks”
considers two opportunities of development ointment business in the future - to
move daughter company's “Tallinn pharmaceutical plant” manufacturing processes
to Latvia or to continue manufacturing in Estonia. Management of “Grindeks”
will make final decision during year 2009. 


About “Tallinn pharmaceutical plant”

“Tallinn pharmaceutical plant” specializes in ointments manufacturing and
currently produces six sorts of ointment medications. The “Tallinn
pharmaceutical plant” was founded in 1914, it is one of the largest
pharmaceutical plants in the state. In 1998 JSC “Grindeks” bought majority of
stakes of the plant. To improve the governance of the concern, optimizing the
processes of the “Tallinn pharmaceutical plant” and to achieve strategic goals,
“Grindeks” bought out all the shares of minority shareholders, becoming its
unique owner in 2004. 


About JSC “Grindeks”

JSC “Grindeks” is the leading pharmaceutical company in the Baltic States. Its
main fields of action are: research, development and manufacturing of brand
products, generics and active pharmaceutical ingredients. “Grindeks”
specializes in the heart and cardiovascular, CNS and anti-cancer medication
therapeutic groups. 
A range of “Grindeks's” 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. 
“Grindeks” concern consists of four subsidiary companies in Latvia, Estonia and
Russia, as well representatives and representative offices in fourteen
countries. Products of the company are exported to more than 40 countries and
its export comprises more than 96% of the total turnover. The main markets are:
the Baltic States, Russia and other CIS countries, Japan, USA. “Grindeks”
shares are listed in the Official List of “NASDAQ OMX Riga”. 


Contacts:
Laila Kļaviņa
Head of the Communications Department
JSC “Grindeks”
Phones: +371 67083370, + 371 29256012
e-mail: laila.klavina@grindeks.lv