Grindeks                                                       20.09.2005.



JSC Grindeks obtains 3.26 million Ls credit from Hansabanka 



Largest pharmaceutical company in Latvia Grindeks has obtained credit in 

Hansabanka – amount of the credit is 3.26 million Ls. 



Purpose of the credit is to cover expenses related to foundation of the 

new Active pharmaceutical ingredients Analytic Scale Up Laboratory. 



We already informed that JSC Grindeks signed a contract with the Latvia 

Investment and Development Agency (LIDA) which provides granting a 

supporting investment of 1.5 millions of Ls from the European Regional 

Development Fund (ERDF). Company will receive this funding after the 

realization of the project in the second half of 2007.  



Project implementation is planned within the framework of the European 

Regional Development Fund (ERDF) programme “Support for the modernization 

of business infrastructure”. Identification number of the project 

application is 35000003.



The new scaling laboratory will comply with the requirements of the GLP 

(Good Laboratory Practise) and Good Manufacturing Practice –cGMP (Current 

Good Manufacturing Practice). 



The project will render to Latvian scientists the opportunity to perform 

a great part of researches, including substance synthesis for clinical 

trials, here in Latvia.  Latvian pharmaceutical enterprises - Ltd Medpro, 

JSC Riga Pharmaceutical plant and JSC LMP, as well as scientists  - The 

Institute of Organic Synthesis (IOS), are interested in realization of this 

project.



Project will increase competitiveness of Latvian pharmaceutical enterprises 

in the markets of Europe and USA. 



Information prepared by:

Finance and Administrative director

JSC Grindeks

Office: 7083250, 

GSM:  9226767

e-mail: janis_romanovskis@grindeks.lv