Grindeks: In 2018 "Grindeks" forecasts at least 10% increase in turnover

Joint Stock Company "Grindeks" informs, it is expecting to reach at least 10%
increase in turnover in 2018, comparing with the results of 2017. In 2018,
"Grindeks" will strategically focus on complex solutions to meet the needs of
patients. The turnover growth this year will be reached by raising export
volume to the EU countries, Russia and other CIS countries, the U.S.,  Canada,
Japan and Vietnam, and, also, entering new markets. The strategic markets for
business development in 2018 will be the European Union and Southeast Asia
countries. 

In addition to entering new markets "Grindeks" also is planning to make
significant investments in development. Kirovs Lipmans, the Chairman of the
Council of JSC "Grindeks", remarked: "The major factor to boost production is
increase in demand. This raises the issue of necessary production capacity;
therefore, this year we will invest at least 7 million euro in our
manufacturing facilities in Latvia, Estonia and Slovakia." 

Detailed information on "Grindeks" results of the last year will be submitted
to "Nasdaq Riga" on 28 February 2018 when non-audited interim financial
statement for the 12-month period of 2017 will be published in accordance with
the financial calendar of this year. 

About "Grindeks"

"Grindeks" is an international, vertically integrated pharmaceutical company.
Main fields of action are research, development, manufacturing and sales of
original products, generics and active pharmaceutical ingredients. The Group of
"Grindeks" consists of five subsidiary companies in Latvia, Estonia, Russia and
Slovakia as well as representative offices in 12 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. Currently "Grindeks" produces 23 active
pharmaceutical ingredients. 

In 2016 the company's products were exported to 71 countries and it comprised
91% of the total turnover. The key markets include the EU countries, Russia and
other CIS countries, the U.S., Canada, Japan and Vietnam. 

To increase production capacity and develop infrastructure, the company has
accomplished many significant investment projects, investing over 90 million
euro over the last 15 years. 

         Further information:
         
         Laila Klavina
         Head of the Communications Department, JSC "Grindeks"
         Phones: ([phone], ([phone]
         Fax: [phone]
         [e-mail]