The original preparation Mildronate\u00ae GX of Grindeks has received the prestigious award and nomination \u201cThe Cardiological Medication of the Year\u201d in the awarding ceremony of the contest for pharmaceutical professionals \u201cPanacea \u2013 2011\u201d in Ukraine. The Victory was ensured by high sales results in the Ukrainian market, as well as the effectiveness of the medication, proven in research and clinical practice.<\/p>\n\n\n\n
In the competition \u201cPanacea \u2013 2011\u201d, which takes place in Ukraine for 12 years in a row, were selected and awarded the best, most professional pharmaceutical players. With this contest organizers wish to thank the pharmacy networks, medication wholesalers, pharmaceutical companies, who make a major contribution to the Ukrainian pharmaceutical industry and health care development.<\/p>\n\n\n\n
Chairman of the Board of Grindeks Janis Romanovskis: \u201cWe are proud that our new product Mildronate\u00ae GX is highly appreciated in the Ukrainian market. This is evidenced by the sales results, the feedback, received from leading cardiologists and patients, and, of course, the award and recognition as \u201cThe Cardiological Medication of the Year\u201d in the prestigious competition \u201cPanacea \u2013 2011\u201d in Ukraine.\u201d<\/p>\n\n\n\n
Ukraine, home to more than 45 million inhabitants, is one of the strategic markets of Grindeks. Green registration process, medication marketing and promotion in Ukraine are provided by both the representative office of Grindeks, and partners, establishing a solid collaboration with the major medication wholesalers. In 2010, the turnover of Grindeks in Ukraine amounted to 10.2 million lats (the Group\u2019s total turnover last year was 65.1 million lats).<\/p>\n\n\n\n
Head of the Marketing Department of Grindeks Linda Litina: \u201cGrindeks has been working for many years in Ukraine and this market is very important to us, with great challenges, opportunities. The statistics are relentless \u2013 cardiovascular diseases is one of the main cause of death not only in Ukraine but throughout the world. Thus, one of the company\u2019s missions is to offer patients new, modern cardiological medications, such as our new Mildronate\u00ae GX.\u201d<\/p>\n\n\n\n
Mildronate\u00ae is metabolic medication that is highly effective in the treatment of coronary heart disease, as it has a positive effect on the body\u2019s energetic metabolism, which restores oxygen supply and consumption process balance. The therapeutic effectiveness of Mildronate\u00ae is confirmed year after year by both clinical practice and clinical trials. In 2010, the results of an international clinical trial on the influence of Mildronate\u00ae on the treatment of angina once more approved the effectiveness and the high safety of Mildronate\u00ae in the treatment of angina in combination with the standard therapy. The trial was carried out in the cooperation with the experienced clinicists, scientific experts and international contract research organisations corresponding with the ICH\/ GCP (Good Clinical Practice) and the EU legislation for the clinical trials of I \u2013 IV phases.<\/p>\n\n\n\n
Mildronate\u00ae GX is a new, modern pharmaceutical form of Mildronate\u00ae \u2013 tablet, which is different from the well-known capsule form. In the Ukrainian market Mildronate\u00ae GX was introduced in September of 2010 and it is planned that soon the registration process will be launched in Latvia. Now in Latvia are available Mildronate\u00ae 250mg and 500mg capsules and injections 10% of 5 ml.<\/p>\n\n\n\n
Through the years Mildronate\u00ae has been the most important original product of \u00abGrindeks\u00bb. However the company, expanding the range of medications and increasing sales of other medications in the last three years has reduced Mildronate\u00ae share in the turnover from 72% to 51%.<\/p>\n\n\n\n
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.<\/p>\n\n\n\n
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\u00ae and Ftorafur\u00ae and more than 100 forms of effective and safe generics included therein. Currently Grindeks produces 16 active pharmaceutical ingredients.<\/p>\n\n\n\n
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.<\/p>\n\n\n\n
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.<\/p>\n\n\n\n
JSC Grindeks shares are listed in the Official List of \u201cNasdaq OMX Riga\u201d. Major shareholders of JSC Grindeks are Kirovs Lipmans \u2013 33.29%, Anna Lipmane \u2013 16.69%, \u201cSkandinaviska Enskilda Banken\u201d \u2013 12.42%, \u201cAB.LV Private Equity fund 2010\u201d \u2013 11.38%, \u201cSwedbank\u201d AS Clients Account \u2013 6.87%.<\/p>\n\n\n\n
Further information:<\/strong><\/p>\n\n\n\n Laila K\u013cavi\u0146a<\/p>\n\n\n\n Head of the Communications Department,<\/p>\n\n\n\n JSC Grindeks<\/p>\n\n\n\n Phones: (+371) 67083370, (+371) 29256012<\/p>\n\n\n\n Fax: (+371) 67083505<\/p>\n\n\n\n