German Remedies Expands In India
German Remedies Ltd, an India-based drugmaker involving thecollaboration of four German pharmaceutical groups - Asta Medica, Schering AG, Boehringer Ingelheim and Beecham-Wulfing - is expected to report 16% sales growth in the first half of fiscal 1997/98 (to September 30, 1997) at about $25.5 million. Local market analysts forecast full-year sales of over $58 million, a rise of over 17%, with a matching increase in profits helped by expansion.
Volume is expected to rise when GRL's fourth Indian plant comes on stream this quarter in Goa. The company has invested over $10 million in this unit, which will manufacture medicines for the treatment of immunological, gastrointestinal, hepatological and urological disorders. The unit is expected to add about $7 million to revenue in the first full year of operation.
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