Galena Triples Net Profit

- Galena Opava, the second-largest drugs producer in the Czech Republic,tripled its net profit to 237 million koruna ($8.8 million) last year, according to the CTK news agency's Business News. Galena, which is 73.5% owned by IVAX of the USA, achieved revenues of 2 billion koruna, compared with 1.8 billion koruna a year earlier, with exports rising 29% to 1.3 billion koruna.

Its exports to Russia amounted to 270 million koruna in 1996. The firm is looking to expand into the Polish and Hungarian markets, as well as into the Balkan region. Galena hopes to increase its revenues by 14% this year, and achieve net profits of 20 million koruna.