Baltic Corporate News In Brief

- Estonia's Tallinna Farmaatsiatehas drugs producer has reported salesof 120 million kroons ($9 million) for the first nine months of 1997, a 21% increase compared with the corresponding period last year, reports the Baltic News Service. Net profit was 24.1 million kroons, which has led business analysts to predict that the company should either meet or just fall short of its raised annual profit target of 48.1 million kroons (Marketletter June 23). The analysts' optimism is based on the company's usual increased growth in the fourth quarter of each year.

- Latvian drug producer Grindex is projecting a net profit for 1997 of 900,000 lats ($1.7 million) on net turnover of 10 million lats, according to the Baltic News Service. Last year, the company recorded a net profit of 166,000 lats on turnover of 8 million lats. Grindex also said that it expects to be able to put its shares listed on the Riga Stock Exchange at the start of 1998.