In 2022, the turnover of AS “Grindeks” grew to 165.72 million euros (+18.96% compared to 2021), while the profit after taxes reached 29.14 million euros (+4.30%), informs “Lursoft Client Portfolio “.
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The group’s turnover last year reached 257.9 million euros, which is 11% more than the year before. The submitted annual report states that in 2022 the “Grindeks” concern exported its products to 100 countries of the world.
“Lursoft” data show that in 2022 JSC “Grindeks” was the employer of 938 employees. The company paid 13.97 million euros in tax contributions to the state budget last year.
Medicines for the treatment of cardiovascular and central nervous system diseases accounted for the largest sales volume last year. Medicines from the hospital segment, offered by “Grindeks” subsidiary company “Kalceks”, also achieved a rapid increase in sales.
The group’s strategy until 2025 includes expansion of operations in the countries of the European Union, USA, Japan, South Korea, Australia, Switzerland and Canada. The concern actively registers and promotes its products in the European Union and other export markets, gradually abandoning operations in high-risk countries, including Russia. The company has significantly reduced the number of employees in Russia.
In 2022, AS “Grindeks” paid special attention to the improvement of the production infrastructure and the installation of new production equipment, including the modernization of laboratories. In order to continue the gradual and stable growth of the concern in the long term, the “Grindeks Innovation Center” will be built in several stages at 12 Asotes Street in Riga. It will provide complex production processes of active pharmaceutical substances, install modern technological equipment and automated, energy-efficient solutions. In the submitted management report, AS “Grindeks” stated that it will be the largest pharmaceutical innovation center in the Baltic region.
It is planned that in 2025, the group’s product range will consist of 105 finished medicinal forms, and they will be exported to more than 100 countries of the world. AS “Grindeks” will continue to focus on medicines for cardiology, central nervous system, oncology, diabetes and dermatology, while subsidiary company “Kalceks” will continue to specialize in medicines for the hospital segment and ophthalmology. To promote competitiveness and increase independence from foreign manufacturers of active pharmaceutical substances, AS “Grindeks” will expand the range of active pharmaceutical substances to at least 40 substances in 2025.
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The true beneficiaries of AS “Grindeks” are Filips Lipmans and Kirovs Lipmans.
2023-07-19 10:33:41
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