Drugmaker Richmond Invests In Pilar Plant

Argentine pharmaceutical group Laboratorios Richmond is planning to invest US$10mn in equipment and upgrades at a recently purchased facility to produce oncology and generic, bio-equivalent antiretroviral (ARV) drugs. The move by the 70-year-old firm aims to boost its export trade and take advantage of a recent return to growth in the Argentine market after prolonged volatility linked to the continued aftermath of the 2002 financial crisis and the more recent December 2005 price freeze, which remains in effect entering 2007.

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