Servier Looks To International Growth

The slowdown in the French drug market and the government's program of reforms to control health care spending has highlighted the current growth value of the foreign R&D operations of French company Laboratoires Servier.

The firm achieved 15% growth in its international sales in 1995 and is forecasting the same rate of growth in 1996, while in France sales remain flat. Servier currently achieves 55% of its sales, 8 billion French francs ($1.5 billion) in 1995, outside France.

Last year, with the exception of Germany, most countries produced double-digit sales growth. Growth in Italy was notable, where Servier has its most important subsidiary and where sales rose 15%. Growth of almost 17% was posted in the UK, and over 11% in Spain. Sales also advanced in Latin and Central America. A subsidiary was opened in Mexico, and in Brazil, sales advanced 46%. Sales in South Africa grew 32% and in Australia, 24%. Germany only achieved an increase of 1.5%.