“Grindeks” agreed with Latvian Institute of Organic Synthesis on closer cooperation

JSC “Grindeks” informs that on 17 August 2010 a senior management meeting of
“Grindeks” and the Latvian Institute of Organic Synthesis (IOS) took place,
during which both sides agreed on closer cooperation in new product
development. 

During the meeting issues on development and initiation of commercialization
process of various patent-protected and generic products were overviewed, as
well as an agreement on the involvement of IOS in the clinical trial program of
Mildronate® in China was reached. 

Chairman of the Council of the JSC “Grindeks” Kirovs Lipmans: “Combining
international experience of “Grindeks” in the pharmaceutical sector and the
high scientific potential of IOS, we have jointly agreed on closer cooperation.
The biggest benefit for “Grindeks” will be new, promising and effective
medicines.” 

Director of the Latvian Institute of Organic Synthesis Ivars Kalviņš: “The
meeting was fruitful - development and potential scenarios of implementation
and registration of new original as well as generic medications were discussed.
We have mutually agreed on both the areas of cooperation, and also on concrete
action plan and deadlines.” 


On “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. Product portfolio of
“Grindeks” consists of original products, generics and active pharmaceutical
ingredients. “Grindeks” specializes in the heart and cardiovascular, CNS and
anti-cancer medication therapeutic groups. 

Group of “Grindeks” 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, the USA. JSC
“Grindeks” shares are listed in the Official List of “NASDAQ OMX Riga”. 


Further information:

Laila Kļaviņa
Head of the Communications Department, JSC “Grindeks”
Phones: (+371) 67083370, (+371) 29256012
Fax: (+371) 67083505
www.grindeks.lv