Bayer Expects to Be China's Biggest Drug Seller Within Months
Written by Bloomberg
Mar 05, 2008 at 02:46 PM
By Simeon Bennett
March 3 (Bloomberg) -- Bayer AG, the German drugs and chemicals maker, expects to be China's biggest drug seller ``in the next few months,'' spurred by treatments for diabetes and blood pressure, the head of the company's Asia unit said.
Sales in China grew 47 percent last year and made up about one third of the company's 825 million euros ($1.3 billion) of revenue in the Asia-Pacific region, which excludes Japan, Chris Lee, regional head of Bayer Schering Pharma Asia Pacific, told reporters in Singapore today.
Lee said he expects revenue from Asia-Pacific to contribute more than 10 percent of Bayer Schering's sales ``within the next few years.'' Revenue in the region increased 26 percent, slower than Europe, North America and the combined region of Africa, Latin America and the Middle East. Sales in the region will rise in a ``high double digit'' range in the next few years, he said.
Sales of Bayer's Glucobay for diabetes grew 13 percent to 105 million euros in Asia-Pacific, and the company's blood pressure medicine Adalat advanced 12 percent to 105 million euros, according to a presentation that Lee gave today.
To contact the reporter on this story: Simeon Bennett in Singapore at .