Slovak Chem/Pharma growth in 1994

The Slovak Republic's Association of the Chemical and Pharmaceutical Industries says the two industries were expected to show growth of 7.5% in 1994, after a 5% decline in 1993, reports the CTK news agency's Business News. The industries profited from the revival of the world economy, particularly higher international demand, it said. Exports rose 12.6% and pretax profits were up 29.6%, with investments rising 15.2% to reach $233 million during the year.

Meantime, the Slovak Biotika company in Slovenska Lupca has completed the modernization of its chlorotetracycline production plant, at a cost of 35 million koruna ($1.03 million), reports Business News. The modernization includes a new production control system. Biotika produces human and veterinary medicines worth 1.4 billion koruna ($4.1 million) a year, including 400 tonnes of chlorotetracycline, of which 95% is exported, mainly to western Europe and the USA.

- The Slovak Republic's largest hospital, the Roosevelt in Banaka Bystrica, is 203 million koruna ($6.4 million) in debt, reports Business News. It owes 158 million koruna for drugs and health products, with the largest amount, 32 million koruna, owed to the Medika drug company, which has now stopped supplying it.