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Home Industry News Bayer anticipates record growth for 2007

Bayer anticipates record growth for 2007

8th November 2007

Bayer Group has seen both its sales and earnings continue to grow in the third quarter of 2007, with the company now expecting record growth for 2007.

This week, the company held a financial news conference in Leverkusen where it reported an increase in third-quarter sales of 4.5 per cent.

Management board chairman Werner Wenning commented on the figures: “This business trend has strengthened our confidence that this will be another very successful year. In fact we are targeting another record for the full year 2007.”

In the pharmaceutical segment of Bayer Healthcare, Mr Wenning went on to indicate that that the company were “on track” to achieve a sustained increase in profitability.

The board chairman highlighted Bayer products Nexavar and Xarelto as holding the greatest sales potential.

He recounted how the European commission had granted marketing authorisation for Nexavar’s treatment in liver cancer, which the company hopes can build on its position in treatment for kidney cancer.

Mr Wenning also highlighted Bayer’s new oral anti-thrombosis drug Xarelto (rivaroxaban) as the most promising product in its pharmaceutical range following positive Phase III results.

Bayer is currently awaiting marketing approval for Xarelto from the European Agency for the Evaluation of Medicinal Products.

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