Bayer highlights growth plans for life science business

Bayer has confirmed to investors that it will be focusing heavily on growing its life science businesses over the coming years.

During the 'Meet Management' investor conference in Berlin this week, the company pledged to considerably increase sales and margins within its HealthCare division between now and 2017, driven mainly by recently launched therapies.

Combined sales of the newer Xarelto, Eylea, Stivarga, Xofigo and Adempas brands are projected to increase toward four billion euros (2.86 billion pounds) in 2015, up from 2.9 billion euros in 2014. The peak annual sales potential of these products is expected to be at least 7.5 billion euros.

Meanwhile, the firm's consumer care business was greatly strengthened last year through acquisitions, while above-market growth and an industry-leading margin is driving success in its CropScience business.

Bayer chief executive Dr Marijn Dekkers said: "We will now work at full steam on implementing our decision to focus entirely on the life science businesses."

Last month, the company strengthened its executive team with the appointment of Werner Baumann as chairman of the HealthCare business, succeeding the departed Olivier Brandicourt.