New Baltic collaboration
Riga – According to an announcement following a meeting of senior staff in mid-August, JCS Grindeks will collaborate in product development with the Latvian Institute of Organic Synthesis (IOS). The collaboration will involve the chemists in a clinical programme in China and “various patent-protected and generic products.” Net profit of the country’s largest drugmaker in Q2/2010 was up 20.6%, while turnover rose by 7.7% compared with the first six months of 2009. The Group’s gross profit margin in the first half of 2010 was 56.4%, while net profit hit 12.8%. The main export markets for Grindeks’ APIs were Europe, Japan, the US, Australia, Pakistan and India.