Spain's Esteve debuts growth strategy

Spanish privately-controlled drugmaker Esteve has launched a growth strategy to increase sales in the period to 2015 to about 1.5 billion euros ($2.17 billion) - a virtual doubling of its 2007 level of 767.0 million euros. The strategy will focus on generating revenue abroad. International turnover accounts for 40% of the current total and this is set to increase to about 60% in the plan period. Esteve has said it does not rule out partnerships, acquisitions or mergers with other drugmakers. A revamped R&D center will be situated in new headquarters in Sant Cugat and a site at Martorelles following a move out of central Barcelona. A presence in the Scientific Park will be maintained. Meanwhile, investment in drug R&D will rise from its current level of 55.0 million euros (2007) to 125.0 million euros by 2015, the firm stated.