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“Grindeks” concludes land purchase agreement for innovation centre development


Posted on: 08 Aug 18

JSC “Grindeks” announces, it has expanded its territory and acquired a plot of land with buildings located in Riga, Krustpils street 63 for the development of innovation centre.

The 92 584-square-meter plot of land in Riga, Krustpils street 63 was acquired from Latvia’s State Joint Stock Company „State Real Estate” in the auction held in July, 2018 for 886 500 euros and as a considerable factor to conclude the deal was the land is located nearby company’s headquarter in Riga, Krustpils street 53. The deal was concluded to develop an innovation centre, which is planned to boost necessary production capacity and meets the vision of “Grindeks” strategic development. This development plan includes building new manufacturing units that will meet specific requirements, as well as creating modern laboratories and logistics centre.

In the near future “Grindeks” will start to develop detailed project of innovation centre’s development, territory’s modernization plan and necessary investments.

About “Grindeks”
“Grindeks” is an international pharmaceutical company focused on research, development, manufacturing and sales of original products, generics and active pharmaceutical ingredients. The Group of “Grindeks” has four subsidiary companies in Latvia, Estonia and Slovakia as well as representative offices in 11 countries.

“Grindeks” specializes in the heart and cardiovascular, CNS, anti-cancer and gastroenterological medication therapeutic groups. A range of products covers a combination of original products Mildronate® (meldonium*) and Ftorafur®, generics, food supplements and active pharmaceutical ingredients.

In 2017 products of the company were exported to 77 countries with export comprising 92.5% of the total turnover. The key markets include the EU countries, Russia and the other CIS countries, the U.S., Canada, Japan and Vietnam.

To increase production capacity and develop infrastructure, the company has accomplished many significant investment projects, investing around 100 million euros over the last 15 years.

*Notice: meldonium is included in the list of substances prohibited in sport.

Further information:
Laila Klavina
Head of the Communications Department
JSC “Grindeks”
Phones: (+371) 67083370, (+371) 29256012
Fax: (+371) 67083505
e-mail: laila.klavina@grindeks.lv

GlobeNewswire
globenewswire.com

Last updated on: 08/08/2018

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