LabChile Expands In Latin American Drug Markets

1 September 1997

Chile's major pharmaceutical company, LabChile, is expandinginternationally and investment of $150 million is planned to allow the company to enter the Brazilian, Mexican and Colombian drug markets.

The Chilean company plans to acquire a small Brazilian pharmaceutical distributor, sell generic drugs in Colombia and produce medical products in Mexico.

LabChile is now benefiting from the extensive restructuring inaugurated in 1995. Sales in first-quarter 1997 rose 89.2% to $29 million, helped by the consolidation of sales of the Argentinian subsidiary Laboratorio Armstrong, and net profits almost tripled to $4.5 million.

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