Bayer still aims to be global leader in OTC business -CEO

FRANKFURT, April 28 Mon Apr 28, 2014 9:04am EDT

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FRANKFURT, April 28 (Reuters) - German drugmaker Bayer is still aiming to be the world No.1 in over-the-counter business and needs not only organic growth but also bolt-on acquisitions to achieve its goal, Chief Executive Marijn Dekkers said on Monday.

"OTC is an important business for us," he told a conference call with analysts on Monday after Bayer published better-than-expected quarterly results.

"That hasn't changed," referring to Bayer's goal to be the global leader, adding that in order to achieve that target the company needed not only significant organic growth but also "bolt-on acquisitions."

Asked in general about Bayer's M&A activities, he said he did not want to say anything specific but that the company's goal is to create value for shareholders.

"We don't feel we have our back against the wall" in the pharmaceuticals business to drive growth, he said. (Reporting by Marilyn Gerlach; Editing by Jonathan Gould)

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