Spain's Puleva ups biotech investment
Ebro Puleva of Spain says that it is planning to invest 4.8 millioneuros ($4.3 million) in its Puleva Biotech subsidiary in order to construct new facilities. The first phase of the project is expected to be completed by the end of April, and a pilot production plant is scheduled to be finished in June. Puleva Biotech's R&D activities are focused on cardiovascular, neurological and immunological treatments.
Puleva envisages applying for a market listing for its biotechnology division, which is valued at some 138 million euros, in the near future. The unit's sales are targeted to reach 7.4 million euros by 2002, with profits of about 3.7 million euros.
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