Baltics leading pharmaceutical company Grindeks expands to new export markets worldwide
RIGA, Latvia, Feb. 17, 2025 /PRNewswire/ -- The leading pharmaceutical company in the Baltics, Grindeks, continues to strengthen its global presence by entering new export markets. This year, for the first time, Grindeks products will be delivered to Panama. The company's export markets already include countries such as Chile, Mexico, Australia, Singapore, the Philippines, and most of Europe. Active pharmaceutical ingredients are also exported to Japan, South Korea, and the USA.
Grindeks is a prequalified supplier for the World Health Organization, supplying its manufactured injections to international organizations such as UNFPA and UNICEF. These organizations distribute the products to African countries like Kenya, Tanzania, Liberia, Sudan, Burkina Faso, Zimbabwe, and others.
Kirovs Lipmans, Chairman of the Council of Grindeks, highlights: "Expanding into new export markets is a testament to our long-term vision and dedication to global healthcare. By continuously investing in innovation, quality, and regulatory excellence, we ensure that Grindeks remains a trusted name worldwide. Our presence in diverse markets reflects our commitment to providing effective and accessible medicines to those who need them most."
Ph.D. Juris Hmeļņickis, CEO of Grindeks, emphasizes: "Export for us means more than just business -- it is an opportunity to make a significant contribution to global health. Each of our export markets symbolizes not just expansion but also our commitment to improving health and quality of life worldwide. We are proud to deliver our products across regions including Europe, Asia, Latin America, and Africa, where the need for high-quality and affordable medicines is critically important. The path to global markets is not easy—it requires adapting to diverse regulations, market requirements, and cultural differences. These challenges motivate us to become even stronger, more efficient, and innovative, ensuring that Grindeks quality and reliability are accessible wherever they are needed."
Reasons for Export Success
Medicines are essential across the globe, particularly in regions with limited healthcare access where the demand for high-quality, internationally produced pharmaceuticals is substantial.
Producing and certifying products to meet international standards ensures safety and efficacy, enabling successful entry into global markets.
A long shelf life (2–5 years) and developed logistics chains allow deliveries to even the most remote regions. Thanks to our sustainable logistics, we can provide high-quality medicines to distant locations such as Tanzania and Zimbabwe. However, not all products are financially viable for export, as high transportation costs limit the delivery of cheaper and heavier goods.
Challenges in Global Markets
Export experience shows that countries with strict regulatory requirements, such as China, Japan, the Philippines, Brazil, Malaysia, Chile, and others, demand adaptation to specific norms. These requirements often differ significantly from European standards, requiring additional time and resources for compliance. High levels of protectionism are also commonly encountered in these markets. Despite these challenges, Grindeks has demonstrated its adaptability and resilience by successfully meeting the standards of these demanding markets.
Cultural differences present challenges, such as overcoming language barriers, time zone differences, and varied business practices, which are crucial for effective collaboration and understanding local market dynamics.
As Grindeks continues to navigate global markets, the company is committed to implementing even more innovative solutions to remain a global leader in improving health.
Grindeks Global Competitiveness
The company's global competitiveness continues to grow despite intense competition in the pharmaceutical market. According to the IQVIA Global Market analysis, one of the world's leading sources of healthcare and pharmaceutical market data, Grindeks secured a solid 299th position among 5,768 companies in Europe in 2023, demonstrating its leading role in the regional pharmaceutical market. This achievement highlights Grindeks strategic approach and its ability to adapt and succeed in dynamic market conditions.
With a vision to rank among the top 100 pharmaceutical companies globally, Grindeks continues to drive innovation, expand its reach, and strengthen its competitive edge in both regional and international markets.
About the Grindeks Group
Grindeks is an international pharmaceutical group that provides a full product lifecycle – research, development, pharmacovigilance, manufacturing, and sales of original products, generic drugs, and active pharmaceutical ingredients. The group exports its products to over 100 countries worldwide. Grindeks main therapeutic groups and directions are cardiology, central nervous system, oncology, diabetes, dermatology, cardiology, and active pharmaceutical ingredients. The subsidiary Kalceks specializes in medications for the hospital segment and ophthalmology. All products are manufactured according to high global safety and quality standards. The group employs more than 1,380 industry professionals.
Photo - https://mma.prnewswire.com/media/2620614/Grindeks.jpg
Logo - https://mma.prnewswire.com/media/1508714/5168961/Grindex_Logo.jpg
SOURCE Grindeks
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article