Latvian pharmaceutical manufacturing company Grindeks opens new subsidiaries worldwide

RIGA, Latvia, April 3, 2024 /PRNewswire/ -- The leading pharmaceutical company in the Baltics, Grindeks, is developing new products and reinforcing its position not only in European but also global markets. With determination and innovative approaches, Grindeks continues to enhance the competitiveness of the group by offering new solutions and achieving ambitious goals, which translate into tangible accomplishments.

The Grindeks facility

To expand its export markets, Grindeks has established 28 subsidiaries in Europe and other countries around the world, including Canada and the United States. Already in 2022, Grindeks began diversifying its export markets by opening 28 subsidiaries in various countries, gradually commencing operations. Last year, operations were initiated in established companies in Poland, the Netherlands, Portugal, Romania, the United Kingdom, Belgium, Germany, Finland, Slovakia, the Czech Republic, Norway, Sweden, Denmark, Slovenia, Croatia, and Austria. This year, subsidiaries have already commenced operations in Greece, Canada, the United States, Ireland, and France, while companies in Hungary and Italy will soon begin operations. Next year, operations are planned to commence in Austria, Switzerland, and the establishment of subsidiaries is planned in Japan and Korea.

Grindeks Chairman of the Board, Dr. Chem. Juris Hmeļņickis, stated, "The opening of new subsidiaries precisely reflects our strategy. We are strongly committed to offering innovative pharmaceutical solutions worldwide. By expanding our presence, we are not only opening new representations but also improving global public health. We are proud of our rapid progress in product development and innovation. We believe that the future of the healthcare industry is closely linked to our ability to create and offer new, effective pharmaceutical solutions. With this goal in mind, we continue to develop products to improve the quality of people's lives."

Development of modern medicines – 30 new products, over 100 pharmaceutical formulations under development

To meet the growing demand for Grindeks medicines worldwide, the company actively works on developing new products. Over the past three years, 30 new products have been submitted for registration. Currently, more than 100 pharmaceutical formulations are in the development process to increase patient access to quality and effective medicines in important therapeutic groups such as Central Nervous System, Cardiovascular, Diabetes, Dermatological, and Oncological diseases treatment.

Chairman of the Council of Grindeks, Kirovs Lipmans: "The foundation of Grindeks' successful operations lies in international cooperation, continuous growth, and product exports worldwide. To maintain the pace of our growth, carefully considered investments and forward-thinking project development are necessary. I am proud of the development and our ability to provide patients worldwide with effective and high-quality medications."

About the Grindeks Group

Grindeks is an international pharmaceutical group that provides a full product lifecycle – research, development, pharmacovigilance, manufacturing, and sales of original products, generic drugs, and active pharmaceutical ingredients. In 2024, the group exports its products to over 100 countries worldwide. Grindeks' main therapeutic groups and directions are cardiology, central nervous system, oncology, diabetes, dermatology, cardiology, and active pharmaceutical ingredients. The subsidiary Kalceks specializes in medications for the hospital segment and ophthalmology. All products are manufactured according to high global safety and quality standards. The Grindeks group employs more than 1,380 industry professionals.