INNOTHERA SEEKING DEVELOPMENT CASH
The French drug manufacturer, Innothera, which specializes in products for women's diseases, says it is ready to open its capital to financial groups in order to raise new cash for development and so remain, paradoxically, independent.
Innothera is the 11th largest French drug company, with sales of some 420 million French francs ($74.7 million) and net profits of 27 million francs in 1991. The group has two main operational branches. These are: Laboratoire Innothera, which in 1991 made sales of 300 million francs, and for 1992 has an R&D budget of 28 million francs; and Innotech International, with 1991 sales of 120 million francs.
In order to avoid following Delalande, Delagrange and UPSA, that is, selling its business to a multinational group, Inn-othera is currently negotiating with a number of potential investors.
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