Grindeks Gains New Shareholder, Aims For 30%+ Revenue Expansion

Latvian pharmaceutical company Grindeks has announced plans to increase revenues by over 30% in 2010 to LVL30mn (US$132mn), with a strategy of strengthening its position in current markets, entering new markets and increasing its range of generic products. BMI believes Grindeks is wise to consider revenue diversification, particularly in light of the increase in generic competition for its lead cardiovascular drug Mildronate (trimethylhydrazinium). Preliminary results show that company revenues dropped 13.7% in

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