OREANDA-NEWS. April 1, 2011. JSC "Grindeks" informs that the company is visited by the representatives of the European Commission, the Latvian Investment and Development Agency and the Latvian Finance Ministry. The purpose of the visit is to explore and see in person how one of the leading manufacturing companies of Latvia is successfully implementing projects that are co-financed by the EU Structural Funds.

The guests will visit in person the Analytical Scaling Laboratory of active pharmaceutical ingredients, which was established in 2007 with co-financing of the European Regional Development Fund of 1.5 million lats. The total investment amount was 3.2 million lats.

The guests will also see as the production unit of ursodeoxycholic acid is currently being built. The total volume of its investments is 6 million lats, of which the European Regional Development Fund co-finances 2.8 million lats. Establishment of the production unit will be completed this half year.

Chairman of the Board of JSC "Grindeks" Janis Romanovskis:

"The financial support for the pharmaceutical industry promotes the business and also serves as a direct incentive for the Latvian economy and exports. Research, development, manufacture and sale of active pharmaceutical ingredients and finished medications compose the core business of "Grindeks", which is constantly and purposefully being developed. Therefore, the EU Structural Funds co-financing is very important as it helps to implement projects faster and cheaper."

"Grindeks" has also received co-financing in other areas - participation in international exhibitions, staff training, etc.