Grindeks 		                                      28.04.2005



JSC “Grindeks” performance in the first quarter of 2005



JSC Grindeks net sales amounted to LVL 7 357 409, which is by 27% more than in the 

perspective period of 2004.  Net profit was LVL 1 125 696, which is more than two 

times larger than the respective figure in 2004. Net profit margin in the first 

quarter of 2005 was 15.3 %. 



There has been an increase in the sales of final dosage forms (building 87% of the 

revenues). Increase can be associated with the penetration into new markets. There 

have been established two new sales representative offices of Grindeks in the region 

of Krasnoyarsk and in Rostov by Don. There are continuing investments of intellectual 

potential for further promotion of Mildronāts and other marketable products in Russia 

and other CIS (Commonwealth of Independent States). 



In order to develop the promotion process of Grindeks products in European countries, 

in the I quarter of 2005 there has continued negotiations with the Finnish Pharmacy 

chain “Scanpharma Oy” about cooperation and exclusive distribution and marketing of 

Grindeks products in the Finnish market. “The registration and launch of the distribution 

process of our products in Finland will be our key of success to start registration 

process in other EU countries”, accents Grindeks Chairman of the Board Valdis Jākobsons.



Information prepared by: 

Jānis Romanovskis, JSC Grindeks 

Finance and Administrative director

Phone. 7083250, 9226767

e-mail: janis_romanovskis@grindeks.lv