Grindeks Corporate Social Responsibility Report of 2011

Grindeks Corporate Social Responsibility Report of 2011


JSC Grindeks informs that the company has submitted its Corporate Social Responsibility Reportof 2011 to “Nasdaq OMX Riga”. Corporate Social Responsibility policy of «Grindeks» is closely in line with the ten principles of the UN Global Compact that are related to human rights, labour rights and the environment, and emerges from the United Nations Universal Declaration of Human Rights, the International Labour Organisation’s Declaration on Fundamental Principles and Rights at Work adopted in 1998, as well as the Rio Declaration on Environment and Development adopted in 1992.

Taking into account the UN Global Compact principles, Corporate Social Responsibility Report of Grindeks is performed in five main directions:


Grindeks encourages the development of society and involves into the dialogue with patients and healthcare professionals. In its turn, acknowledging the responsibility for the health of consumers and the company’s product quality, Grindeks adheres to the principles of the Corporate Social Responsibility and the standards of “Good Manufacturing” by providing high quality in the product manufacturing and accomplishing all manufacturing processes in the environmentally friendly way. Core value of the company is its employees; therefore Grindeks takes care of a social welfare, health protection, work safety, professional and career development of the employees. As a leader in the pharmaceutical market of the Baltic States Grindeks engages more actively in the promotion of ethical business environment, and will further popularize high ethical standards and stand against corrupt activities in the pharmaceutical and chemical industry.
Chairman of the Board of JSC Grindeks Juris Bundulis: “Social responsibilitypolicy of Grindeks is very rich in tradition, and it is implemented everyday, in every aspect of our business activities. And there are things to be proud of – the close connection with education and science, as well as the support that has been provided by the Grindeks fund “For the Support of Science and Education” for several years; quality accomplishment, improving the quality monitoring processes annually, as well as the numerous society support projects. Latvia is a “green” country, and “green” thinking and awareness of Grindeks manifests in its respect for nature. We are pleased with our achievements in the environment protection, for example, the efficiency of industrial sewage purification improves every year and the results achieved are close to the best available technology indicators globally.”

In the foreground of the pharmaceutical business is a human being and his health, therefore as a priority of Corporate Social Responsibility in 2012 is a PATIENT. Grindeks is involved in educating patients on health care issues and supports public health promotion.

Grindeks Corporate Social Responsibility report of 2011 (3 MB)

About Grindeks

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 and the Netherlands. In 2010 The Ministry of Economics of Republic of Latvia and 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 in 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%.

Further information:

Laila Kļaviņa
Head of the Communications Department, JSC Grindeks
Phones: (+371) 67083370, (+371) 29256012
Fax: (+371) 67083505
[email protected]

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