Bayer forecasts €11 billion growth in Asia
pharmafile | November 17, 2011 | News story | | Bayer, China, emerging markets
Bayer is expecting sales in Asia to grow by €11 billion over the next four years, with over half of this coming from China.
Speaking at a conference in Shanghai, Bayer’s chairman Marijn Dekkers said he expected his firm to grow by 60% in Asia by 2015.
This translates into a growth €11 billion ($15 billion) over the next four years, at today’s exchange rates, with €6 billion of this expected to come from greater China alone.
Bayer’s three divisions of crop chemicals, plastics and drugs had combined 2010 sales of €6.9 billion in Asia, including €2.9 billion in greater China.
The firm announced earlier this year that it would cut around 2,000 jobs by 2012 in mature markets in order to finance investment in key areas such as Asia.
The company said it would boost its R&D presence in the region, focusing on new collaborations and integrating Asian patients into the early stages of global development programmes.
It is also looking to increase the number of employees in Asia, which could go up from 23,700 in 2010 to more than 30,000 by 2015.
Healthcare unit to grow
The company’s healthcare division’s share of Bayer’s Chinese revenue will also increase by 2015, the firm said.
Its HealthCare division generated about €926 million in sales last year in China, but by 2015 it will account for about €2.5 billion, with diabetes and high-blood pressure drugs expected to drive drug sales growth in the rapidly urbanising country.
Dekkers said sales in India would double to about €1 billion in the next four years and sales in Japan are expected to rise to about €2.4 billion in 2015, up from about €2 billion last year.
“We have been operating for more than a century in China, India and Japan,” he said.
“We are familiar with the markets, and we know how to tune our approaches to the different conditions prevailing in different markets in order to further expand our business.”
Ben Adams
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