Roemmers opens $65 million pharma plant in Argentina

Roemmers, Argentina's largest pharmaceutical company, has opened itsthird plant in the country at a cost of $65 million. The group says that the plant, which will have a production capacity of 50 million units per year, is the most modern in Argentina and one of the few of its kind in Latin America.

Roemmers believes that the plant will help it increase its position in the domestic market, as well as explore the possibilities of strategic alliances with major pharmaceutical multinationals. The company posted 1999 sales in Argentina alone of $298 million and holds a domestic market share of 7.3%. It also has a presence in 16 other Latin American countries.