Ciba commits marketing dollars.
CIBA COMMITS MARKETING DOLLARS. Ciba Specialty Chemicals, Basel, Switzerland, presented a new strategy to 60 investors and analysts in December 2003. The strategy, "Innovation--the key to differentiation," calls for Ciba to allocate CHF 300 million (US$ 244 million) to research and development for development of new markets and technologies and to expansion of research activities in India and China. A special research fund for "high risk/high reward" projects has an annual sum of CHF 15 million (US$ 12.2 million) available to it. Ciba hopes products less than five years old that constituted 26% of sales in 2002 will comprise one third of its sales in the mid term.