Bayer China Unit Plans 20 Percent Growth To Keep Sales Lead
This article was originally published in PharmAsia News
An executive of Bayer AG says his company anticipates a 20 percent growth in sales in China during the next five years, enough to sustain its lead over other international pharmaceutical companies. The firm intends to take advantage of the rapid urbanization of China and the resulting lifestyle changes that drive sales of drugs for such ailments as cancer, diabetes and hypertension. Liam Condon, managing director of Bayer's health care unit in China, said it expects $656 million in sales in China this year. The firm expects to complete a $39 million expansion of its Beijing drug-making plant by the end of the year and expand other plants as necessary to meet market demands. (Click here for more
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