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He indicated that the aforementioned regions are the pharmaceutical group’s strategic markets and that expansion to new markets will diversify the company’s operations and reduce business risks.

Bundulis considers the outgoing year to be generally successful for Grindex, which has achieved significant results by investing in marketing and sales activities. “The positive trend and growth has been continuing throughout the year,” the head of the pharmaceutical group said.

Commenting on the investments made by the company this year, the Grindex CEO said that their total value would be around EUR 7 million. In the first half of the year, Grindex launched a new production line in HBM Pharma Ltd., a subsidiary in Slovakia, increasing production capacity to 150 million ampoules a year. Work also continued on key research and development projects.

Asked about the company’s financial results for this year, Bundulis said that last year the group turned over EUR 105.4 million and that in line with this year’s target turnover should grow by 10%, which the group is likely to achieve.

Commenting on the company’s future plans, Bundulis said that Grindex has completed major restructuring in recent years, which has enabled the group to strengthen its market position and competitiveness.

As reported, Grindex reported EUR 95.9 million in turnover for the first nine months of this year, which was a 32% increase against the nine-month period in 2016. The group’s net profit, attributable to shareholders of the parent company, was EUR 6.5 million and has increased by EUR 0.04 million or 1% compared to the first nine months of 2016.