FRANKFURT: German pharmaceuticals and chemicals giant Bayer, maker of Aspirin, said Wednesday that it expected strong growth in its key pharmeuticals and agrochemicals divisions in the next few years. "We see good perspectives for our businesses in the medium term. In our so-called life science areas -- healthcare and crop science -- we anticipate further increases in sales and margins through 2014," said chief executive Marijn Dekkers.
At Bayer's healthcare division, sales were expected to reach "approximately 20 billion euros ($26 billion) in 2014" from 17.169 billion euros last year.
The crop science division would raise sales to "more than 8.0 billion euros" in 2014 from 7.255 billion euros in 2011. "The main reason why I'm optimistic for our healthcare subgroup is our well-stocked development pipeline in pharmaceuticals," Dekkers told an investor conference. "We believe four of our medicines in late-stage development have blockbuster potential.
That means each of these products could achieve peak annual sales of 1.0 billion or more." The four products are the anti-coagulant Xarelto, the eye medicine VEGF Trap-Eye, and the cancer drugs Alpharadin and regorafenib. "We believe Xarelto alone to have a peak sales potential of more than 2.0 billion euros," Dekkers said.
As reported last month, Bayer lifted net profit by 90 percent to 2.47 billion euros in 2011 on a 4.1-percent increase in sales to 36.528 billion euros.
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