Rhone-Poulenc Rorer Buys Argentinian Business
Franco-American company Rhone-Poulenc Rorer has acquired the rights to its products in Argentina, which were licensed to Elvetium in 1990. Under the terms of the agreement recently concluded with Elvetium, R-PR will market its existing and new product range, through a newly-created affiliate, Rhone-Poulenc Rorer Argentina.
As a result of its licensing agreement with Elvetium, sales of R-PR products in Argentina increased significantly over the past few years, the company says, and in 1994 amounted to $19.4 million.
"The decision to buy back the rights to our full product range is a reflection of our confidence in the future of the Argentinian pharmaceutical market," said Richard Forrest, senior vice president of R-PR and president of R-PR Doma, responsible for South America, Africa and most of Asia. He added that R-PR is in the process of introducing a series of important new medicines worldwide, and so wanted to include Argentina in this program.
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