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Way Cleared for Expansion

Way Cleared for Expansion Hansavivek GLAXO LABORATORIES (INDIA) is confidently looking ahead to achieving a 15 to 20 per cent increase in production, sales and exports in the current year. These expectations are based on the growing demand for most of the company's products, better availability of power and indigenous raw materials, hopes of getting adequate imported materials and, above ail, a degree of price stability the like of which has not been seen for many years. While making this assessment of the prospects, the chairman, S Bhoothalingam, is hesitant to make any forecast of profits which he says will depend mainly on the content of the new price policy and the manner in which it is applied. Meanwhile, he has welcomed the indications given by government of the spheres in which companies with large foreign shareholdings will be permitted or even encouraged to operate. He feels that if certain other areas of policy are also further clarified and stabilised, leading companies in the pharmaceutical industry will be able to perform what is expected of them.

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