Schering-Plough Expanding In Brazil
The Brazilian subsidiary of Schering-Plough is expected to achieve gross turnover of around $360 million in 1996, according to company sources in Sao Paolo. This follows a complete recovery since 1989, when the firm suffered a loss of $20 million and appeared to be on the point of quitting the Brazilian market.
The Italian executive Gian Enrico Mantegazza, who acquired a 70% stake in the company through Ach Laboratories in 1989, undertook a series of reforms which have turned the firm around. The latest phase of recovery is attributed to the launch of new products and a series of incentives for staff.
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