Grindeks: Currently Have 20 New Products under Development
OREANDA-NEWS. February 10, 2012. Grindeks informs that it is currently developing 20 new products. Among these are the new combinations of Mildronate® and generics.
Although Grindeks specializes in the heart and cardiovascular, CNS and anti-cancer medication therapeutic groups, the company also focuses on other therapeutic areas - antibacterials and gastrointestinal medications. According to the company's strategy, the new products will be introduced gradually. Every year the product range will be increased with at least four new medications.
The Chairman of the Board of Grindeks Juris Bundulis: “In recent weeks we have seriously analyzed the product portfolio of both generics and original products under development. It is clear that with the original products we have to enter the market as early as possible in order to hold the patent protection period at its maximum. The same is with the generics – we have to be in the market among the first to use the full benefits of competition. New products are currently in various stages of development.
Grindeks is seriously working on the development of new active substances. In 2011 the range of active pharmaceutical ingredients was significantly expanded and now it contains 22 substances.
The Chairman of the Board of Grindeks Juris Bundulis: „The development of new active pharmaceutical ingredients usually lasts from 2 to 3 years. Last year we introduced 7 new substances. It proves that the business of active pharmaceutical ingredients is being developed successfully.”
By introduction of new final dosage forms and active pharmaceutical ingredients, the company will increase its competitiveness in the future and increase the company's total turnover. Grindeks is currently analyzing the financial results of the last year and forecasts that the total turnover of the Group will be around 70 million lats.