Roche Completes Restructuring In Spain

Roche of Switzerland has put the finishing touches to its restructuringprogram in Spain, which started because of the purchase of the US group Syntex, including Syntex Latino, in 1994. The company has dissolved three of its subsidiaries, Doctor Andreu, Roche Nicholas and Syntex Latino which have now been integrated into Roche Products, reports the Spanish newspaper Cinco Dias.

The Swiss group has now concentrated its Spanish operations into two distinct companies, the first being the aforementioned Roche Products which will be divided into three different spheres. The first area deals with pharmacy, which in turn will be split between hospital and prescription drugs. The other divisions will cover over-the-counter drugs and diagnostic products, which produced a turnover of 2.57 billion pesetas ($16.1 million) in 1996, 6.9% of the group's total sales. The second company, Roche Vitamins, will deal with human and animal nutrition.h

Madrid Plant To Be Closed Sources close to the company told Cinco Dias that "despite the dissolution of the group, the network of visiting doctors at Doctor Andreu and Syntex has been maintained," thus keeping two well-known names to the fore in the market.