Private company

Grindeks

Logo: Grindex, Public domain, via Wikimedia Commons4

Company based in Riga, Latvia

JSC Grindex (branded as Grindex), or simply Grindeks, is an internationally operating Latvian pharmaceutical company with headquarters in Riga, Latvia. Its portfolio consists of original products, generics, and active pharmaceutical ingredients. It mostly focuses on cardiovascular, central nervous system, anti-cancer, and diabetes medicines.2 It employed 938 people in 2022.1 Its revenue was €166 million in 2022.1 It is part of Liplat Holding.1 Wikipedia text CC BY-SA 4.0

Last updated Oct 21, 2026.

Overview

Oct 11, 1991Founded1
  • IndustryWholesale of chemical products, Wholesale of pharmaceutical goods, contract manufacturing organization, manufacture of basic pharmaceutical products, manufacture of chemicals and chemical products1
  • HeadquartersRiga1
  • Websitewww.grindeks.com
  • Legal formakciju sabiedrība1
  • LEI5299006DWR32NKWM1O863
  • StatusActive3
  • LEI statusLapsed (not renewed)3
  • Registered addressKrustpils 53, LV-1057 Riga, Latvia3
  • Registered withLursoft, 400030349353
Grindeks Latvia
Photo: Jānis Vilniņš, CC BY-SA 3.0, via Wikimedia Commons6

JSC Grindex (branded as Grindex), or simply Grindeks, is an internationally operating Latvian pharmaceutical company with headquarters in Riga, Latvia. Its portfolio consists of original products, generics, and active pharmaceutical ingredients. It mostly focuses on cardiovascular, central nervous system, anti-cancer, and diabetes medicines. Grindex is the leading pharmaceutical manufacturer in the Baltic States. In 2021, Grindex exported products to more than 90 countries.2

Corporate structure

Grindeks sits at the top of its group. 3 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries, stakes and holdings from Wikidata (CC0). Each entity in the chart links to its source.

The story

1946–1990

Grindex was founded in 1946 when its predecessor, the Vitamin and Hormones Plant, was transformed into an experimental plant to produce medicines.

In 1957, the Vitamin and Hormones Plant became part of the newly established Organic Synthesis Institute (OSI). The plant was developed as the OSI's experimental base for the implementation of fundamental research and scientific innovations in manufacturing.

By the end of the 1950s, the manufacture of the first chemical products - fenilin, furazolidone, furadonin, and TioTEFA had begun. Work begins on the development of anti-cancer agents.

The manufacture of final dosage forms and a circuit for tablets was established.

In 1966, manufacturing technology for the anti-cancer product's active ingredients – Ftorafur® – was carried out.

In 1965, the plant shifted to exclusively manufacturing organic synthetic products. In total, around 30 different medicines and related technologies were invented during the 1960s.

In 1972, the first cooperation contracts were signed with Japanese pharmaceutical companies Iskra Industry and Taiho Pharmaceutical to supply the anti-cancer agent Ftorafur® and it spreads the fame of the plant worldwide. Even today, this drug is still one of the most exported products by Grindeks.

The synthesis of Grindeks’ brand product Mildronate® commenced.

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In the 1980s, every fourth new medicinal drug in the former USSR was created by the OSI and developed at its Experimental Plant. More than 60 new medicines were created, of which 17 were patented and original to the plant.

1991–2000

In 1991, along with the regaining of Latvian national independence, the Latvian State medicinal drug research, and manufacturing company Grindeks was founded based on the Experimental Plant. The name of the company emanates from the name of the first pharmacist, natural scientist, doctor, and Professor of Chemistry of Latvian origin, Davids Hieronims Grindelis.

In 1997, the public Joint Stock Company Grindeks was established.

In March 1998, Public Joint Stock Company Grindeks acquired a majority shareholding in the Tallinn Pharmaceutical Plant.

The quotation of Grindeks shares on the Riga Stock Exchange commenced on 1 June 1998.

In 2000, Grindeks received the Good Manufacturing Practice (GMP) certificate issued by the United Kingdom's Medicine Control Agency, which certifies the compliance of the company's tablet and capsule plant to the international requirements of pharmaceutical manufacturing.

2001–2010

In 2003 Grindeks became the first Latvian pharmaceutical manufacturer to receive the Good Manufacturing Practice Certificate from the Latvian State Agency of Medicines.

In 2001, Grindeks implements the principles of the ISO 9001:2000 quality standard.

In September, the company received the International Environment Authority's ISO 14001:1996 certificate.

In November, the US Food and Drug Administration recognized the compliance of the manufacturing and control of the active ingredient oxytocin to international standards.

In 2002 the company signed up to the UN Global Compact and the global chemical industry's Responsible Care program.

In 2007, Active Pharmaceutical Ingredients Analytical Scale-up Laboratory was opened, as well as Crystallization unit for Grindeks brand product Mildronate® substance was built with a capacity of 250 tons per year.

In 2009, new, compliant to the international pharmaceutical industry standards, final dosage forms plant was opened.

2011 – present

In 2011, Grindeks established a new anti-cancer manufacturing unit. In 2011, Grindeks also unveiled UDCA active pharmaceutical ingredient manufacturing unit.

In 2012, Grindeks unveiled an ointment and gel manufacturing unit, one of the most modern in the Baltic States. In 2011, Grindeks established a new anti-cancer manufacturing unit.

In 2012, Grindeks agreed on the acquisition of whole (100%) shares of HBM Pharma s.r.o. in Slovakia.

In 2013, Grindeks received OHSAS 18001 certification and the Russian ГОСТ (GOST) certification of quality ISO 9001-2011.

2020 Grindeks announces the plans to build a new multifunctional plant.

From Wikipedia’s article on Grindeks, shared under CC BY-SA 4.0.5

Products and brands

  • (RS)-tegafur
  • meldonium

Listed on Wikidata.1

Grindeks' product portfolio consists of:

original products and generic medications

active pharmaceutical ingredients.

"Grindeks" specializes in therapeutic groups of medicines for the cardiovascular system, the central nervous system and anticancer medicines. In 2009, under the auspices of the Institute of Organic Synthesis of Latvia, independent researchers discovered a new cardioprotective substance GX-EG, which turned out to be 40 times more active than mildronate produced and exported by "Grindeks". The company has acquired the rights to conduct further research on GX-EG and will begin phase 1 clinical trials in 2020.

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Original products

Ftorafur®

Mildronate®

Generic

Grindeks manufactures over 60 final dosage form (FDF) pharmaceutical products and exports these to over 90 countries worldwide. The portfolio contains both original and generic FDF products. Grindeks' FDFs range from solid form products, solutions for injections to ointments and syrups.

From Wikipedia’s article on Grindeks, shared under CC BY-SA 4.0.5

Subsidiaries and ownership

Parent company

  • Liplat Holding

Owners

  • Kirovs Lipmans

Subsidiaries

From Wikidata.1

Employees over time

  • 20229381
  • 20119691

Revenue over time

As stated on Wikidata, in the currency reported.

Revenue

Grindeks revenue by year1165.7M EUR in 2022+17% since 2019
050.0M EUR100.0M EUR150.0M EUR200.0M EUR2019: 141.4M EUR141.4M EUR20192022: 165.7M EUR165.7M EUR2022+17%
  • 2022165.7M EUR1
  • 2019141.4M EUR1

Timeline

  1. Oct 11, 1991Founded Founded1

Sources

The numbers on this page point here. Each one links to the record it came from.

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