SANOFI EXTENDS HOLDING IN CHINOIN

France's Sanofi has purchased an additional 11% stake in Hungarian drugmaker Chinoin, bringing its total holding to 51%. The deal is seen as expanding Sanofi and its joint venture with Sterling Winthrop, Sanofi Winthrop's presence in eastern European markets.

In 1992, Chinoin reported sales of 611 million French francs ($104 million), with human health care products accounting for 69% and plant protection and animal health the remaining 31%. Some 44% of total sales were in western countries and 32% in Hungary.

OTC Venture Meantime, Sterling Winthrop has set up a $3 million joint venture with Chinoin to market and distribute nonprescription medicines in Hungary, where the over-the-counter sector is expected to grow fast over the next few years. Pharmaceuticals are one of the country's fastest-growing industries, and the Hungarian industry was estimated to rank sixth or seventh worldwide by a recent Financial Times study (Marketletter September 13).