Searle Buys Argentinian Firm

Monsanto's pharmaceutical subsidiary, Searle, has reached agreement toacquire the drug business of Argentinian company Chemotecnica Sintyal SA, thus paving the way for the US group to return to the Argentine market. The Argentinian pharmaceutical market is said to be the 12th largest in the world, with 1996 sales of some $3.8 billion.

Sintyal, which operates in the pharmaceutical, veterinary, crop chemicals and adhesive sectors, has annual sales of $110 million, according to Searle. In pharmaceuticals, its main operating areas are anti-arthritics, analgesics and antibiotics, with its leading product, Ibupirac (ibuprofen), contributing $60 million to turnover.

According to Searle's chairman and chief executive, Richard De Schutter, Sintyal has "the infrastructure and specialized resources that Searle can capitalize on immediately to promote and sell its products in this important market," and provides "the competitive mass from which we can launch future Searle products."