S-P Investment In Brazil Continues
Major US pharmaceutical company Schering-Plough is to increaseinvestment in its Brazilian drugmaking operation, having already invested $62 million in the period 1996-97. The firm is to direct $18 million into the modernization of the Jacarepagua plant near Rio de Janeiro, with half that sum spent so far this year on new machinery, as well as an automated inventory management system.
Already the second largest majority shareholding drug company in Brazil, Schering-Plough expects to report profits of close to $370 million in 1997, up 18% on the previous year's total.
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