Spain's Cofares to set up drug firm

Spain's leading drug distributor Cofares has decided to set up its own company for the manufacture and marketing of non-prescription medicines. The company has invested 5.0 million euros ($7.3 million) in the new enterprise, to be called Farline. Sales in the first 12 months of operation are expected to reach 6.0 million euros.

Director general Jose Antonio Lopez Arias said a market share of 3% was feasible within the first three years of operation. The company controls 20% of the Spanish mainstream drug distribution business.