November 16, 2011 / 7:02 AM / 6 years ago

Bayer says aims to boost Asia sales 60 pct by 2015

FRANKFURT, Nov 16 (Reuters) - Germany’s largest drugmaker Bayer aims to boost sales in Asia by more than 60 percent until 2015, driven by its cancer and cardiovascular drugs as well as its engineering plastics, it said on Wednesday.

Bayer, which started producing the Aspirin painkiller in Shanghai as early as 1936, said that by 2015 it planned to have sales in Asia of well over 11 billion euros ($14,9 billion), about 6 billion of which in China, where Bayer is already one of the largest healthcare companies.

Among the pharmaceuticals Bayer sells in China is the Nexavar pill, to help treat the more than 300,000 new liver cancer cases that occur there every year. But Bayer also makes transparent plastics that go into panoramic roofs and head lights of cars for the region’s booming automotive industry.

The company said it eyed investment expenditures of about 1.8 billion euros in Asia until 2015.

This is part of a shift to focus more on emerging markets, unveiled about a year ago, shortly after Dutchman Marijn Dekkers became the company’s new chief executive. Bayer said at the time it would cut 4,500 jobs and create 2,500 new positions in emerging markets. ($1 = 0.739 Euros) (Reporting by Ludwig Burger)

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