Lilly Expands Argentine Presence
US drugmaker Eli Lilly is expanding its presence in Argentina, the third-largest Latin American market, by setting up a wholly-owned sales and marketing organization.
Lilly and Dow Quimica Argentina's subsidiary Lepetit International have signed an agreement returning marketing rights given to Lepetit in 1985 for Lilly products; the rights were returned to Lilly for a cash payment to Lepetit as of the end of 1994 but Lepetit will continue to comarket the antibiotic Cefral (cefaclor).
The new operation means that Lilly will have a direct presence in all major Latin American countries. The stabilizing Argentinian economic situation means that the country has one of the most promising of the Latin American economies, according to Lilly's chairman, Randall Tobias.
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