Grindeks                                          09.05.2005.



Extra information  on the purchase of shares of JSC Kalceks 



On April 30, this year, JSC Grindeks purchased 1 198 611 shares of 

JSC Kalceks, obtaining 97,4% of the total stock capital of JSC Kalceks. 

The terms and conditions  of this transaction can be found in the 

audited 2004 Financial Statements of JSC Grindeks ( has been submitted to 

RSE (Riga Stock Exchange) on April 20, this year, see Appendices NO 5). 

Grindeks purchased shares of the JSC Kalceks from its shareowner Kirovs 

Lipmans, who stands also as the Chairman of the Council of JSC Grindeks and 

is listed as one of the holders of the insaider  information of JSC Grindeks. 

The JSC Kalceks turnover  in 2004 comprised 557 376 Ls which comparing to 

the turnover of 2003 (being 769 979 Ls) sees the decrease by 30%. Since 

Kalceks do not possess Certificate of Good Manufacture Practice, the company 

disrupted its production activities with the moment of Latvia entering in 

the EU on  May 1, 2004, this being the  reason of the rapid decrease of turnover.

Writing off the fixed assets and losses emerging from the disruption in 

production brought to the economic activities losses in amount of  669 999 Ls 

of Kalceks in 2004. Comparing to 2003 the company’s profit made 1535 Ls.

In 2004 it has been a hard work contributed to let the JSC Kalceks successfully 

resume its economic activities and to continue recommencing the production. 

The turnover of JSC Kalceks planned for year 2005 is 498 948 Ls, for its part 

the prognosis for the profit makes 29 188 Ls. 

The progress of the company’s future is related to a more extensive 

diversification and a deeper specialization in the framework of the 

pharmaceutical holding company of Grindeks. The injections was  

acknowledged as a more profitable form of production of Kalceks in enterprises 

of our co-operation partners.

Presently the production of Kalceks injections has already been commenced 

in the Lithuanian company Sanitas.



Information prepared by:

Jānis Romanovskis,

Finance and Administrative director

JSC Grindeks

Tel: 7083250, 9226767

e-mail:janis_romanovskis@grindeks.lv