Glaxo Wellcome Outlines Investments In Latin America

Latin America is being targeted for investment by UK-based GlaxoWellcome which, according to the Gazetta Mercantil, is prepared to double its presence in that region.

In Brazil alone, GW is planning to invest around $405 million over the next four years, which will include a new manufacturing plant in Rio de Janeiro and new marketing campaigns. Other plans include increasing product lines and acquiring Brazilian laboratories.

In Argentina, GW will invest some $5 million in its two plants at Munro, Buenoes Aires province, where it produces 20 million units a year of mainly antibiotics, which are sold in the domestic market and to other Latin American countries. In 1996, it exported $18 million worth of drugs from Argentina, and GW forecasts that this will rise to $25 million in 1997.