OREANDA-NEWS. On 28 April 2009 was announced, that the audited financial results confirm that "Grindeks" had worked successfully last year; the net profit in 2008 has reached 9 million lats, exceeding the result of 2007 by 1.9 million lats or 26,8%. Turnover of the Group has reached 62.1 million lats in 2008, which is by 10.6 million lats or by 20.6% more than in 2007.

Chairman of the Board of "Grindeks" Janis Romanovskis: “The results of 2008 confirm that our business strategy and the set priorities have been accurate because the Group has operated successfully last year. It is known to everybody that the last year will be marked as the beginning of the global financial and economic crisis in the world history, therefore achievement of the strategic goal which envisages keeping growth rates and ensuring the previous increase in turnover and profit was a special task for the company. Development of "Grindeks" is characterized by another important achievement; regardless of the external financial and economic conditions, in 2008, the Group purposefully continued to implement the investment programm and in January 2009, the new final dosage forms plant was opened by investing a total of  9.1 million lats.”

JSC "Grindeks" forecasts - if current growth dynamics will sustain in substancial markets, then the year 2009 will end successfully with 10 – 30 % profit growth. In 2009 "Grindeks" continues reasearch of new combinations of the existing original products.

 At the end of this year or begining of next year registration process of the new medication will be started.

"Grindeks" is the leading pharmaceutical company in the Baltic states. Its main fields of action are: research, development, manufacturing and sale of original products, generics and active pharmaceutical ingredients. "Grindeks" specializes in the heart and cardiovascular, CNS and anti-cancer medication therapeutic groups. "Grindeks" Group consists of four subsidiary companies in Latvia, Estonia and Russia, as well representatives and representative offices in fourteen countries. Products of the company are exported to more than 40 countries and its export comprises more than 96% of the total turnover. The main markets are: the Baltic States, Russia and other CIS countries, Japan, USA. JSC "Grindeks" shares are listed in the Official List of “NASDAQ OMX Riga”. Further information:Laila KlavinaHead of the Communications Department.