Bayer aims for growth in China, report says

08 Jul 2008

Bayer Healthcare is striving for annual growth of 20 per cent over the next five years in China, according to a report.

A senior executive stated the company is aiming to maintain its greater market share over larger global rivals in the country, Reuters says.

The news provider comments that Bayer and other big international drugmakers are intensifying their focus on China, where sales of diabetes, hypertension and cancer treatments are said to be increasing in line with "rapid urbanisation and changing lifestyles".

It adds the Irish executive believes "if we can continue to grow above market average, we can stay number one", citing China as the only market where Bayer leads AstraZeneca and Pfizer on sales.

Bayer recently revealed plans to invest €100 million (£79.6 million) in its sites in Brazil, which is another emerging market and one the pharmaceutical giant ranks in its top ten markets worldwide in terms of sales.