Police and U.S. drug agents raided and destroyed a huge jungle cocaine laboratory that produced at least $50 million worth of drugs each week, Bolivian and U.S. officials said Friday.

Interior Minister Juan Carlos Duran said the lab produced 3.5 tons of pure cocaine a week. Under a formula established by U.S. agents, the wholesale worth in the United States of the cocaine produced at the plant is at least $50 million a week-or $2.6 billion annually.