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Grindeks earned LVL 1.2 million in the first three months of the year

According to the Grindeks's report to the Riga Stock Exchange: the joint-stock pharmaceutical company Grindeks earned LVL 1.2 million in profit in the first three months of the year, which is by 64.7% less when compared to the first three months of 2008, informs LETA.

Grindeks achieved LVL 14.1 million in turnover in the first quarter of the year, which is 16.7% less when compares to the first three months of 2008.

As reported, Grindeks is the largest pharmaceutical company in the Baltic States specializing in production and sales of cardiovascular, psychotropic, and anticancer medicines. The company produces both final dosage forms pharmaceuticals and active pharmaceutical ingredients.

Grindeks group has four subsidiaries in Latvia, Estonia and Russia. The company exports 96% of its products to over 40 countries, the major markets being the Baltic states, Russia, the CIS countries, Japan, and the United States.

Grindeks was the largest producer of pharmaceuticals in Latvia in 2008, when it posted LVL 62.1 million turnover.

Grindeks earned LVL 9 million in net profit last year, which is 26.8% more than in 2007.


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