Grindeks to invest in Belarus
Riga – Latvia’s largest pharmaceutical manufacturer, JSC Grindeks, has signed a letter of intent (LOI) with two pharmaceutical companies in Belarus during the third meeting of the “Latvian-Byelorussian Inter-Governmental Commission on Economic, Scientific and Technical Cooperation”, which took place in mid-October.
According to the LOI, Grindeks is to invest up to a50 million in production plants for final dosage forms at pharmaceutical company RUE’s Borisov Medical Preparations Plant and at the Belarusian State Production and Sales Holding of Pharmaceutical and Microbiological Products (Belbiofarm Concern).
Additionally, Grindeks will use a6.5 million that the company acquired in mid-October from JSC Hansabanka to expand its own infrastructure. Grindeks says it plans to use the funding to construct new purification systems and modernise its production capabilites.