Gindeks                                            01.04.2005.  



Mildronate – all-time export leader between the Latvian non-food consumer goods



Mildronate is the most marketable original product and the key product of 

the goup of cardiovasculars   of JSC Grindeks. Mildronate has reached 

remarkable sales volumes in the pharmaceutical markets of Baltic region and 

the CIS countries. This is a trademark which is recognised in a number of 

states. Mildronate is the third most purchased pharmaceutical product in 

Belarus and ranks in the fourth place in Ukraine.



The original product of JSC Grindeks – Mildronate has been recognised as the 

most exported product in the group of major non-food consumer companies during 

the contest Made in Latvia.



The selling of Mildronate composes 60% of the total Grindeks’ turnover and for 

now the major export markets of Mildronate are the Baltic States, Russia, Ukraine, 

Belarus, Georgia, Moldova and  Azerbaijan. During the year 2004 the sales of 

Mildronate taken by states  were- 48,8% (Russia), 41,2 % ( CIS), 4,1 % (Latvia), 

6,3% (Lithuania).



In   2006 the patent protection of the above mentioned original product of Grindeks 

would come to an end, that means that the generic forms of this medicine could be 

produced and offered in the market by other pharmaceutical producers. World 

practice shows that   in those cases the original product little by little starts 

to loose its market positions, namely  in  decrease of the turnover approximately 

by 30%. 



Valdis Jākobsons, the Chairman of the Board of the JSC Grindeks shortly commented 

this fact by noting that „JSC Grindeks makes great investments in clinical trials 

and works hardly through the years to create a new, improved form of the Mildronate. 

It is planned that the new product could appear in the market in the end of the 

year 2006. It is foreseen that the new form of the original product would return 

with interest the money  resources lost with the end of the previous patent. 



Jānis Romanovskis

Finance and Administrative director 

JSC Grindeks

Tel: 7083250

E-mail: janis_romanovskis@grindeks.lv