Ten “Grindeks” preparations have been excluded from the Russian drug register

At the request of the Latvian pharmaceutical manufacturer “Grindeks”, ten preparations produced by this company have been excluded from the Russian State Register of Medicines, the Russian portal “Farmacevticheskij vestnik” reports, referring to the information provided by the Ministry of Health of Russia.

Among these preparations, whose registration certificates have been revoked, are the drug for the treatment of parkinsonism “Cyclodol”, the drug for the treatment of angina pectoris “Ivakard” and the anticoagulant “Varfarek”.

Nine preparations whose registration certificates have been revoked have analogues registered in Russia.

There is no analogue on the Russian market, except for sodium fluoride – a caries prevention tool for children.

“Grindeks” representatives emphasized to the LETA agency that the company invests a lot of work to expand into new markets and reduce its market share in Russia and Belarus.

From more than thirty “Grindeks” products previously available on the Russian market, their number has now been reduced to six, moreover, these products are mainly intended for the treatment of chronic diseases of the civilian population and were left in the company’s portfolio for humanitarian reasons, company representatives explain.

The number of products has also been reduced in Belarus, leaving only the most important medicines for the population. In both countries, consumer-oriented marketing activities for product promotion have been discontinued.

Commenting on export markets, “Grindeks” representatives indicate that expansion is planned in the European Union (EU), USA, Japan, South Korea, Australia, New Zealand and Canada, among others. Currently, “Grindeks” has 29 subsidiary companies in EU countries, USA, Norway and Australia.

It has already been reported that the turnover of the “Grindeks” concern in 2022 was 257.913 million euros, which is 11.1% more than the year before, but the group’s profit decreased by 41.2% – to 24.19 million euros.

The “Grindeks” concern consists of “Grindeks”, Latvia’s “Kalceks” and “House Management Projects”, Estonia’s “Tallinn Pharmaceutical Factory”, as well as Russia’s “Grindeks Rus” and Slovakia’s “HBM Pharma”. The company’s largest shareholder is “Liplat Holding”, which belongs to Kirov, Anna and Filip Lipman.