Sclavo's Better Results

Sclavo, Italy's number one vaccine maker (controlled by the Marcucci group), announced improved operating results for 1993, though its financial situation remains negative. The company posted gross profits of 1.74 billion lire ($1.1 million) last year.

According to company officials, Sclavo's exposure with banks dipped to 54 billion lire, or almost half the 98 billion lire reported a year earlier. Last February, the Marcucci group had announced a reorganization, grouping all its pharmaceutical operations under Sclavo, which was thus to become a holding company. Under the scheme, by end-1994, Sclavo is to incorporate Nuovi Laboratori Biagini and Farmabiagini. Overall 1994 sales of 350 billion lire are expected.