December 26, 2016 / 10:29 AM / 2 years ago

Brazil's Raia Drogasil chain maintains 2017 growth plans - paper

SAO PAULO, Dec 26 (Reuters) - Brazil’s largest chain of drug stores, Raia Drogasil SA, reaffirmed plans to open 200 new outlets in the country next year, Chief Executive Officer Marcilio Pousada told Monday’s edition of newspaper O Estado de S. Paulo.

Pousada said the company opened roughly 200 stores in Brazil this year and would keep the same rate of expansion despite the country’s prolonged recession. He said a key driver of growth was the country’s aging population.

“No crisis will change that,” the executive was quoted as saying by O Estado, adding that during harsh times the company sells more generic drugs, which tend to be cheaper.

Raia Drogasil operates 1,400 outlets in 18 states. The company employs 29,000 people, according to the O Estado report. (Reporting by Ana Mano; editing by David Clarke)

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