Grindeks                                                       08.11.2005.



The results of the nine months commercial activity of JSC Grindeks in year 2005



Nine months net turnover of JSC Grindeks ran to 22 127 648 millions of Latvian lats, 

thus exceeding 23% the turnover in respective period of year 2004.



Accounted net profit amounted to 3 475 318 of Latvian lats, comparing the year 2004 

with the nine month net profit being 2 304 636, a considerable growth of 50.8% has 

been attained.



The cumulative increase in turnover is mainly related to extending into the present

markets by acquiring new regions in Russia and CIS countries and investing the 

intellectual potential into a successful promotion of Mildronate and other products 

in the mentioned countries. 



Kazakhstan is one of the countries which experience now a remarkable growth of 

market with a great potential, thus making almost 7 per cent of all the medicals 

turnover produced in Grindeks. For its part, in Ukraine the originator product of 

Grindeks –Mildronate has been recognized as the year’s most sold prescription medical.



Valdis Jakobsons, CEO and Chairman of Board informed that the biggest pharmaceutical

 holding company in the Baltic States continues to extend its activities in the 

markets of EU: “We are actively proceeding work with our products registration in 

Finland, forming new representative offices in Poland, Bulgaria and  Hungary. 

Grindeks does a lot of investments in development of its product portfolio and original 

products, mainly focusing its activities on the cardiovascular medical groups and 

psychotropic medicines. These priorities were determined, taking into account the 

patients needs, for cardiovascular and neural diseases are the most world-spread 

illnesses”.



The positive financial records of JSC Grindeks have constantly enhanced the rise of 

company’s share price. The average weighted price on Riga Stock Exchange in nine 

months period was 5.81 Latvian lats and comparing to the respective period of the 

year 2004, the price has risen more than three times.



JSC’s Grindeks profit per share (EPS quotient) in a nine months period of 2005 

was 0.36 Latvian lats.



Information was prepared  by:

Janis Romanovskis, Finance and Administrative director JSC Grindeks 

Tel: 7083250, 9226767

e-mail: Janis_romanovskis@grindeks.lv