Bayer Pharmaceuticals posts 8.6% growth in 2016 in Asia-Pacific
Bayer reported a sales increase of 8.6 percent to more than €4.8 billion for its Pharmaceuticals Division in the Asia-Pacific region in 2016, noting the contribution of innovative products in its continued growth.
Rivaroxaban, an oral anticoagulant, and Aflibercept, an eye medicine used for the treatment of wet age-related macular degeneration continued to contribute significant growth to Bayer, mainly because of their expanded use and reach across more markets.
Claus Zieler, Bayer Pharmaceuticals Division Asia-Pacific’s senior vice president and head of commercial operations said innovation was the foundation of the company’s success.
“Our portfolio of innovative medicines, which addresses the unmet medical needs of patients in the Asia-Pacific region drives our strong business growth today,” Zieler said in a press conference in Singapore on Tuesday.
According to global health intelligence agency IMS 2016 data, Bayer’s Pharmaceuticals business continued to be one of the fastest growing among multinational companies and among the top 10 in value sales in Asia-Pacific in 2016.
In 2017, Bayer expects sales of more than €17 billion for its Pharmaceuticals Division, globally corresponding to a mid-single-digit percentage increase on a currency- and portfolio-adjusted basis.
Combined sales of key growth products such as Rivaroxaban and Aflibercept are expected to reach more than €6 billion globally, according to Bayer. Asia-Pacific continues to provide a viable growth opportunity, as IMS predicts an average market growth rate of 5 percent across the region from 2017 to 2020.
“With our robust performance in Asia-Pacific, we expect the positive development to continue in 2017 as our innovative products continue to serve the growing healthcare needs in the region,” said Zieler.
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