JSC  "Grindeks"  net sales in the first nine months of 2003 amounted to

LVL  13,559,015, that is by 18.4% more than in the respective period of

2002.  Net  profit  was  LVL 1,276,731 (LVL 1,262,910 in the respective

period of 2002).



In  the  first  nine  months  net profit margin was 9.4%. The net sales

target  has  been  surpassed  by 7.8%, or, by LVL 983,393. Gross profit

margin in the first 9 months of 2003 was 33.5%.



The sales of final dosage forms, building 72.3% of "Grindeks" revenues,

have  increased by 19% over the respective period in 2002, mainly owing

to expansion in the existing markets - namely, covering more regions in

Russia  and  CIS.  Intellectual  potential  has  been  invested towards

promoting of Mildronate in the said markets.  Original product Osteplus

Iproflavone  was  registered in Poland. Currently the marketing unit is

working on promotion of Herbastress in Latvian market.   



Jana Semerikova , JSC "Grindeks" PR Director 



Phone: 7083448; 9277837, e-mail: jana_semerikova@grindeks.lv