Last update: 29.05.2020 04:05 (GMT+3)

Grindeks (25.03.2020)

Riga market | Baltic Main List

GRD1R  |  ISIN LV0000100659

Health Care




Name: AS "Grindeks”
Core business: Pharmaceuticals manufacturing
Auditor: SIA „BDO Assurance”
Date of listing: 01.06.1998.- 01.01.2006 I-list
                        From 02.01.2006 Main list 
Market: Nasdaq Riga

Supervisory Board:
Kirovs Lipmans (Chairman), Anna Lipmane, Filips Lipmans, Jānis Naglis, Arkadiy Vertkin

Management Board: 
Juris Hmeļņickis (Chairman), Jānis Romanovskis 

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 2018, products of the company were exported to 87 countries with export comprising 93% of the total turnover. The most significant “Grindeks” markets include the EU countries, Russia and the other CIS countries, the U.S., Canada,
Japan and Vietnam.

“Grindeks” Active pharmaceutical ingredients and Final dosage forms plants have received Good Manufacturing Practice (GMP) certificates, while company’s achievements in the Integrated Quality management, Environmental and Energy management, Occupational Health and Safety Management system are approved by ISO 9001, ISO 14001, ISO 50001, ISO 17025 un OHSAS 18001 certificates, as well as successfully performed supervisory audits.

To increase production capacity and develop infrastructure, the company has accomplished many significant investment projects, investing nearly 105 million euros over the last 15 years.

To achieve company’s strategic business objectives, priorities for 2019 are:
• Strategic markets of business development – European Union and South East Asia countries
• Dynamic development of product portfolio
• Strengthening positions in Russia and the other CIS countries
• Business expansion of JSC “Kalceks”
• Expected increase in turnover of the Group by at least 12% in 2019
• Investments in 2019 – 9 million euro
• Successful maintenance of the new Medicines Verification System
• Optimization of current assets and cost reduction in positions unrelated to the strategic development projects, as well as product registration and progress

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


Address: 53 Krustpils str, Riga, LV-1057
Phone: + 371 67083500

Contactperson: Olga Grišina
Phone: +371 67083334


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