Drug store chain expands in Lima

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LIMA--Boticas Fasa, a Chilean drug store chain, plans to add 15 new stores in Lima in 1999.

Boticas Fasa General Manager Ricardo Palominos says the company plans to spend $5 million on the expansion. The company, which opened in 1996, currently has nine stores in Lima.

Boticas Fasa first came to Peru as part of the Santa Isabel supermarket chain, also Chilean. The companies parted ways when Santa Isabel was bought out by the Dutch supermarket conglomerate Ahold.

The company's expansion comes at a difficult moment in the Peruvian economy, which continues to contract due to an ongoing recession. The market for both over-the-counter and prescription drugs fell by nearly 12% in 1998.

Copyright March 1999, Crain Communications Inc.

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