France's Ethypharm Targets China Mart

Ethypharm, a French producer of drugs sold in the form of gels, is set to target the Chinese and Far Eastern markets. The company reported sales of 153.6 million French francs ($31.2 million) for 1994. Eric Igonet, the company's finance director, has said that with 100 million people with good purchasing power, China offers potential for major development.

The French manufacturer is already present in 40 developed countries, and is said to be the leading European producer of gel-based products. Mr Igonet says China is being targeted after a successful two-year period in which Ethypharm obtained 18 import licenses and launched its first branded product.

A joint venture is being set up in Shanghai in an investment worth $15 million. The project will enable Ethypharm to produce 600 million does for the Chinese market, or some 60% of its current production. The company will also open an office in Tokyo. The Russian market was first entered last year, and products are being marketed directly to wholesale organizations there.