FRANKFURT, July 30 (Reuters) - German healthcare group Bayer is discussing internally whether its animal health unit needs to be bulked up to better compete with rivals, its chief executive said.
“We have a good animal health business but things are happening in the industry ... that make us take a look at the question to what extent is critical mass important in animal health,” CEO Marijn Dekkers told analysts in a conference call.
Dekkers pointed to Novartis’s decision in April to sell its animal health arm to Eli Lilly for about $5.4 billion and to Pfizer spinning off its animal health unit Zoetis last year as events that have changed the industry.
Bayer is the world’s fifth-largest veterinary drugs maker, based on 2013 sales of 1.3 billion euros ($1.7 billion).
$1 = 0.7477 Euros Reporting by Ludwig Burger