JSC "Grindeks" and the University of Latvia plan to create a pharmaceutical research, development and production infrastructure, in the framework of which preclinical (safety and pharmacokinetics) and clinical studies, regulated in Latvia and the Baltic States (GMP, GLP, GCP), will be carried out, including bioequivalence studies for the pharmaceutical industry needs. 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 physico-chemical studies, as well as active pharmaceutical ingredient and final dosage form technology development and optimization. During the cooperation, a platform and capacity for innovative, for example, biotechnological, pharmaceutical products will be developed.
One of the key benefits for the pharmaceutical industry will be rising of the overall competence level, because in the result of cooperation, professionals will be prepared according to industry demand, with a university degree in pharmacy, modern pharmaceutical technology, medical and biomedical fields.
Within the framework of the cooperation, "Grindeks" 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. For the operation of the newly created infrastructure, "Grindeks" also plans to provide funding and opportunities for scientists/researchers to tackle practical issues of the pharmaceutical industry.
The University'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.
Kirovs Lipmans, Chairman of the Council of JSC "Grindeks-: "The pharmaceutical and chemical industry in Latvia is defined as a priority for the Latvian economy. In the global pharmaceutical market the competition is fierce, and strengthening our positions, the thing is not only about individual Latvian enterprises or institutions, and even not only about Latvia as a competitive country in the pharmaceutical market. Today we talk about Europe and its position in competition with America and Asia. Latvia is unique in that that here the national pharmaceutical industry has been preserved and it is developing successfully. Purposefully investing and working in the right direction, we can raise both the sector's overall level of competence, and to create development-oriented, innovative and globally competitive infrastructure. R&D resources, which now as outsourcing are being purchased from foreign companies, are very big, and I am personally as the country's patriot and businessman, interested that these resources remain in our country - they give a chance to advance in science, create innovative products and contribute to the overall Latvian citizens' welfare. Investments that we are going to invest in research, development and production infrastructure creation are estimated at many millions lats, and, undoubtedly - such an investment has a far-reaching future. The signed contract between "Grindeks" and the University of Latvia is a summary of long talks, ideas and visions and commitment to jointly carry out scientific research and technology transfer in Latvia."
Rector of the University of Latvia, Professor Marcis Auzins: "The University of Latvia is one of the leading higher educational scientific institutes in the region, in its turn, "Grindeks" is the leading industries company in the Baltic States. The conclusion of long-term cooperation agreement is a logical step to approximate the science and production, and to increase the overall pharmaceutical industry competitiveness by unifying the academic excellence and innovative technology opportunities to provide the best professionals in the field."
"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. The Group of "Grindeks" consists of four subsidiary companies in Latvia, Estonia and Russia, as well representative offices in ten countries.
"Grindeks" specializes in the heart and cardiovascular, CNS and anti-cancer medication therapeutic groups. A range of products covers a successful combination of original products and generics, with the original products Mildronate® and Ftorafur® and more than 100 forms of effective and safe generics included therein. Currently "Grindeks" produces 22 active pharmaceutical ingredients.
Products of the company are exported to 50 countries and its export comprises more than 95% of the total turnover. The main markets are: Russia and other CIS countries, the Baltic States, Germany, the Netherlands, Japan and the U.S. In 2010 the Ministry of Economics of Republic of Latvia and the Investment and Development Agency of Latvia awarded "Grindeks" as the most export potential company of Latvia.
During the last years the company realized many considerable investment projects in purpose to increase production capacity and develop infrastructure and invested 32.7 million lats within five years.
JSC "Grindeks" shares are listed on the Official List of "NASDAQ OMX Riga-. Major shareholders of JSC "Grindeks" are Kirovs Lipmans - 33.29%, Anna Lipmane - 16.69%, "AB.LV Private Equity fund 2010" - 11.38%, "Skandinaviska Enskilda Banken" - 10.94%, "Swedbank" AS Clients Account - 8.28%.
More information about the company - www.grindeks.lv/en/
Follow "Grindeks-: Twitter.com/AS_Grindeks; Youtube.com/GrindeksLV
Laila Kaavina Head of the Communications Department, JSC "Grindeks- Phones: (+371) 67083370, (+371) 29256012 Fax: (+371) 67083505 firstname.lastname@example.org