Key Developments: Grindeks AS (GRD1R.RI)

GRD1R.RI on Riga Stock Exchange

17 Apr 2014
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Latest Key Developments (Source: Significant Developments)

ABLV Private Equity Fund 2010 KS acquires 22.66 per cent shareholding in Grindeks AS
Wednesday, 5 Feb 2014 07:38am EST 

Grindeks AS:Announces that it has received the notification from the ABLV Private Equity Fund 2010 KS regarding essential acquisition of participation in the share capital of Grindeks AS in the total amount of 22.66 per cent (2,172,437shares).  Full Article

Grindeks AS Confirms FY 2013 Turnover and Profit Guidance
Wednesday, 3 Apr 2013 03:09am EDT 

Grindeks AS announced that it has confirmed its turnover and profit guidance for fiscal year 2013. As reported previously, the Company plans to reach for fiscal year 2013 turnover of approximately LVL 100 million and profit of approximately LVL 12 million.  Full Article

Grindeks AS Issues FY 2013 Turnover Guidance above Analysts’ Estimates; Issues FY 2013 Profit Guidance
Wednesday, 28 Nov 2012 07:42am EST 

Grindeks AS announced that it plans for fiscal year 2013 turnover of around LVL 100 million and profit of about LVL 12 million. According to I/B/E/S Estimates, the analysts are on average expecting the Company to report for fiscal year 2013 revenue of LVL 79.28 million.  Full Article

Grindeks AS Unveils Manufacturing Unit of Ointments and Gels
Wednesday, 28 Nov 2012 07:00am EST 

Grindeks AS announced that it has unveiled a manufacturing unit of ointments and gels. Altogether, LVL 2.5 million were invested in the manufacturing unit of ointments and gels, out of which the co-financing of the European Union structural funds is LVL 448,670. The investments are planned to be recovered within two years. The manufacturing unit of ointments and gels is equipped with devices that ensure safe, efficient and environmentally friendly production. In October 2012, the new manufacturing unit received the Certificate of Good Manufacturing Practice from the State Agency of Medicines of Latvia. The new manufacturing unit will be able to produce up to 20 million tubes per year. In the new manufacturing unit of ointments and gels of Grindeks AS, there are new job positions created for 10 qualified operators and technical engineering specialists. It is planned that the new manufacturing unit will provide also medication manufacturing for other companies according to their orders or to provide contract manufacturing services.  Full Article

Grindeks AS Opens Representative Office in Armenia
Monday, 16 Jul 2012 02:00am EDT 

Grindeks AS announced that it is expanding its presence in the Commonwealth of Independent States countries and is opening a new representative office in Armenia. The representative office will cooperate with the national medicines authorities, wholesale and retail companies of pharmaceutical and medical products of Armenia, as well as will provide Grindeks AS medication registration and promotion. Grindeks AS began its activities in Armenia several years ago. The most demanded products of Grindeks AS in Armenia are Mildronate, Apilak-Grindeks, Karvidil, and Oxytocin-Grindeks.  Full Article

Grindeks AS and University of Latvia to Jointly Create Pharmaceutical Research, Development and Production Infrastructure
Monday, 9 Jul 2012 07:48am EDT 

Grindeks AS (GAS) announced that a cooperation agreement has been concluded between GAS and the University of Latvia (UL) on the long-term cooperation in scientific research, technology transfer, including cooperation in the project Baltic Innovative Research and Technology Institute Infrastructure. GAS and UL plan to create a pharmaceutical research, development and production infrastructure, in the framework of which preclinical and clinical studies, regulated in Latvia and the Baltic States, will be carried out. At the same time, scaling-up, final dosage form, active pharmaceutical ingredient development and analytical structures will be made, which will deal with new synthesis method development, synthesis, and various chemical studies, as well as active pharmaceutical ingredient and final dosage form technology development and optimization. During the cooperation, a platform and capacity for pharmaceutical products will be developed. Within the framework of the cooperation, GAS plans to make proposals on the necessary educational programs for the pharmaceutical industry and to participate in the provision of lecturers, internship placements and laboratory equipment for studies. UL’s participation in the project will be implemented through practical participation in the selection, creation and operation of infrastructure, ensuring the quality of research performance, the collection and transfer of the results, as well as attracting funding.  Full Article

Grindeks AS Pays No FY 2011 Dividend
Tuesday, 19 Jun 2012 09:19am EDT 

Grindeks AS announced that it has decided, at its Annual General Meeting of Shareholders, to pay no dividend for fiscal year 2011.  Full Article

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