Faes Farma looks to expand in Porugal

Spain's Faes Farma has set its sights on expansion in Portugal, ratherthan acquiring or merging with a domestic firm. According to a report in the Spanish publication Expansion, Faes' business strategy is centered on growth through acquisitions, but the company feels there is a lack of synergy with other groups in Spain. Faes is already in talks with several firms ahead of the introduction of Bilastina (bilastine), an allergy drug scheduled for launch in 2006 which could make annual sales of over $1 billion, the report said.