Eurofarma invests R$159 millions in expansion

Eurofarma will invest R$159 millions this year in Brazil, to extend its market share. At present, Eurofarma has the 9th position in the pharmaceutical industry. The resources will be applied in the industrial park, in increasing the strength of sales and in the research and development (R&D) of products. The biggest slice of the investment – R$75 millions - will be directed to the industrial complex of Itapevi (SP). Creams and ointments, liquids and veterinary products will be produced in the site. The first phase of the project must be completed at the end of the year.

The second stage is predicted for the second half of 2008. R$ 8 millions will be used in the employment of more than 350 employees, expending the sale force to around 1.1 thousand persons. Eurofarma still applies R$ 36 millions, of which R$10 millions are from Finame, in R&D of new medicines. They expect to release at least 30 new products, and the majority is generic.

Source: Agencia de Desenvolvimento Tietê Paraná - April 10th, 06