Bayer meets financial targets in 2011

Bayer has published its financial results for the 2011 full-year period, during which it saw a 4.1 percent annual increase in sales.

The company's group sales total for the last 12 months came to 36.53 billion (30.97 billion pounds), exceeding the record set in 2010, while its operating result improved by 52 percent to a benchmark-setting 4.15 billion euros.

Its HealthCare business was instrumental in this growth, contributing 17.17 billion in sales thanks to improving demand from emerging markets, a strong pharmaceutical pipeline and successful restructuring and cost-saving measures.

The report stated that Bayer is also off to a strong start in 2012, a year which is expected to be characterised by further growth despite challenging economic conditions.

Future success will be driven by product innovations, with its HealthCare division planning the launch of four new drugs in the next 18 months with blockbuster potential.

Bayer chief executive officer Dr Marijn Dekkers said: "We all work every day to build on our position as a world-class inventor company that improves the lives of many people with its innovative products and solutions."