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International Internet Magazine. Baltic States news & analytics Tuesday, 19.02.2019, 15:36

Grindex completes acquisition of Slovakia's HBM Pharma

BC, Riga, 26.06.2018.Print version
Latvian pharmaceutical group Grindex has completed the acquisition of Slovakia's HBM Pharma s.r.o., writes LETA, according to the Latvian company's announcement to Nasdaq Riga.

The EUR 18.2 million acquisition deal was closed on June 21. Grindex purchased the Slovakian pharmaceutical company from the Cyprus-registered Dashdirect Limited.

The core business of HBM Pharma s.r.o. is manufacturing of pharmaceuticals and Grindex has concluded a long-term agreement with the company on the manufacturing of medication in form of injections.

As a result of this latest acquisition, Grindex Group comprises four subsidiaries: Tallinn Pharmaceutical Plant (Estonia), Kalceks (Latvia), Namu Apsaimniekošanas Projekti Ltd. (Latvia), and HBM Pharma s.r.o. (Slovakia).

As reported, Grindex generated EUR 132.411 million in consolidated turnover in 2017, which is a 25.7% rise against 2016, while the group's profit grew 2.2 times to EUR 9.968 million.

Grindex is an international pharmaceutical company focused on research, development, manufacturing and sales of original products, generics and active pharmaceutical ingredients. The group has four subsidiary companies in Latvia, Estonia and Slovakia as well as representative offices in 12 countries.

Grindex is quoted on the Main List of the Nasdaq Riga stock exchange.

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