In  connection  with  forthcoming  Latvia's joining the European Union,

Grindeks  plans  to  expand  its  operational  activity  by looking for

beneficial  co-operation  forms with other pharmaceutical manufacturers

in  the Baltics and European countries. Presently, Grindeks has started

investigation    of    possible   co-operation   forms   with   leading

pharmaceutical companies in Poland as regards contract manufacturing of

Grindeks  medicines.  One  of  the possibilities under consideration is

transferring of a part of Grindeks injectables manufacturing facilities

to  Poland. Such co-operation model provides optimisation of production

costs,  which will allow Grindeks to invest additional funds to promote

use  of  new  technologies  and  development  of  products  of  greater

prospects.

Up  to  now, the major manufacturer of the injectable forms of Grindeks

brand product Mildronate has been Lithuanian manufacturer Sanitas .

In  case  of  a  concrete  agreement  with any of Polish pharmaceutical

manufacturers,   Grindeks  will  inform  Riga  Stock  Exchange  on  all

circumstances  of  the  particular  agreement  following the Riga Stock

Exchange Regulations on the Financial Instruments Quotation.  



Information prepared by:

Jana Semerikova,

Head of the Public Relations Section of the PJSC Grindeks.

Tel.: 7083448; 9277837;

Email: jana_semerikova@grindeks.lv