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STATEMENT: Latvian pharmaceutical manufacturing company Grindeks opens new subsidiaries around the world

(Information sent by the signatory company).

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STATEMENT: Latvian pharmaceutical manufacturing company Grindeks opens new subsidiaries around the world

(Information sent by the signatory company)

RIGA, Latvia, April 3, 2024 /PRNewswire/ -- The leading pharmaceutical company in the Baltics, Grindeks, is developing new products and strengthening its position not only in European but also global markets. With determination and innovative approaches, Grindeks continues to improve the group's competitiveness by offering new solutions and achieving ambitious goals, which translate into tangible achievements.

To expand its export markets, Grindeks has established 28 subsidiaries in Europe and other countries around the world, including Canada and the United States. Already in 2022, Grindeks began to diversify its export markets by opening 28 subsidiaries in several countries, gradually starting operations. Last year, operations began in companies established in Poland, the Netherlands, Portugal, Romania, the United Kingdom, Belgium, Germany, Finland, Slovakia, the Czech Republic, Norway, Sweden, Denmark, Slovenia, Croatia and Austria. This year, subsidiaries have already started operating in Greece, Canada, the United States, Ireland and France, while companies in Hungary and Italy will soon begin operating. Operations are scheduled to begin next year in Austria, Switzerland, and the establishment of subsidiaries in Japan and Korea is planned.

Juris Hmeļņickis, PhD in Chemistry and Chairman of the Board of Directors of Grindek, said: "The opening of new subsidiaries precisely reflects our strategy. We are firmly committed to offering innovative pharmaceutical solutions around the world. By expanding our presence, we are not only opening new representations, but also improving global public health. We are proud of our rapid progress in product development and innovation. We believe that the future of the healthcare industry is closely linked to our ability to create and deliver new and effective pharmaceutical solutions "With this goal in mind, we continue to develop products to improve the quality of people's lives."

Development of modern medicines: 30 new products, more than 100 pharmaceutical formulations in development

To meet the growing demand for Grindeks medicines around the world, the company is actively working on the development of new products. In the last three years, 30 new products have been submitted for registration. Currently, more than 100 pharmaceutical formulations are in the development process to increase patient access to effective and quality medicines in important therapeutic groups such as the treatment of diseases of the central nervous system, cardiovascular, diabetes, dermatological and oncological.

Kirovs Lipmans, Chairman of the Board of Grindeks, said: "The basis of Grindeks' success lies in international cooperation, continuous growth and the export of products around the world. To maintain the pace of our growth, carefully considered investments are necessary. and forward-thinking project development. I am proud of the development and our ability to provide patients around the world with effective, high-quality medicines."

About Grindeks Group

Grindeks is an international pharmaceutical group offering a complete product life cycle: research, development, pharmacovigilance, manufacturing and sales of originator products, generic medicines and active pharmaceutical ingredients. In 2024, the group will export its products to more than 100 countries around the world. The main therapeutic groups and directions of Grindeks are cardiology, central nervous system, oncology, diabetes, dermatology, cardiology and active pharmaceutical ingredients. The Kalceks subsidiary specializes in medicines for the hospital and ophthalmological segment. All products are manufactured in accordance with high global safety and quality standards. The Grindeks group employs more than 1,380 industry professionals.

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