Eli Lilly Investing In Brazil

Us pharmaceutical company Eli Lilly is to invest $82 million in Brazil by the turn of the century, according to local reports.

Investment by the firm started this year with $20 million being spent on a new production plant in Sao Paolo State. $7.5 million has been set aside for research, and the remainder of the $20 million will be used for training, installations and equipment.

Lilly expects to see exports double once the unit is completed. Drug exports will go in the main to the Mercosur trading block, consisting of Argentina, Brazil, Uruguay and Paraguay, and to Puerto Rico and Venezuela. Chile has recently gained associate membership of Mercosur. Exports include two medicines that are only produced in Brazil, an injectable antibiotic, Keflin (cefalotin), and Keflex (cephalexin), an oral antibiotic.