OREANDA-NEWS. On 9 September 2009 was announced, that Responding to publication in BNS news network of September 7, 2009 "Grindeks" informs about its development plans of daughter company in Estonia – “Tallinn pharmaceutical plant”.

 "Grindeks" considers two opportunities of development ointment business in the future - to move daughter company's "Tallinn pharmaceutical plant" manufacture to Latvia or to continue manufacturing in Estonia.

The Management of "Grindeks" does not confirm making the final decision.

"Tallinn pharmaceutical plant" specializes in ointments manufacturing and currently produces six sorts of ointment medications. The "Tallinn pharmaceutical plant" was founded in 1914; it is one of the largest pharmaceutical plants in the state. In 1998 JSC "Grindeks" bought majority of stakes of the plant. To improve the governance of the concern, optimizing the processes of the "Tallinn pharmaceutical plant" and to achieve strategic goals, "Grindeks" bought out all the shares of minority shareholders, becoming its unique owner in 2004.