Baltic Export, Good for Business, Latvia, Markets and Companies, Medicine
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Wednesday, 24.04.2024, 22:26
Grindex expects 2018 turnover to grow at least 10% y-o-y
The turnover
growth this year is to be achieved by raising exports to the EU member states,
Russia and other CIS countries, the U.S., Canada, Japan and Vietnam, and also
by entering new markets. The strategic markets for business development in 2018
will be the EU and Southeast Asia, Grindex
representatives said.
In addition to entering new markets, Grindex is planning
to make significant investments in development.
"The major factor to boost production is an
increase in demand. This raises the issue of necessary production capacity;
therefore, this year we will invest at least EUR 7 million in our manufacturing
facilities in Latvia, Estonia and Slovakia," said Kirovs Lipmans, the council chairman of Grindex.
In 2018, Grindex will strategically focus on complex solutions to
meet the needs of patients.
The Grindex group reported EUR 95.864 million in turnover
for the first nine months of 2017, which was a 32.4% increase against the
nine-month period in 2016, and the group profit was up 0.5% to EUR 6.457
million.
Grindex is an
international, vertically integrated pharmaceutical company. Main fields of
action are research, development, manufacturing and sales of original products,
generics and active pharmaceutical ingredients.
Grindex group comprises
the parent company, Grindex, and five subsidiaries in Latvia, Estonia, Russia and
Slovakia.
Grindex is quoted on
the Main List of the Nasdaq Riga stock exchange.