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Bayer plans expansion in Japan

Bayer has said it plans to grow at an average of six per cent per year in Japan over the next five years, with the pharmaceutical firm expecting annual revenue of €2.4bn in the country by 2015

Bayer has said it plans to grow at an average of six per cent per year in Japan over the next five years, with the pharmaceutical firm expecting annual revenue of €2.4bn in the country by 2015.

The German-based company also said it is to continue investing in R&D in Japan, with plans to spend more than €500m during the period.

The comments were made by Dr Marijn Dekkers, chairman of the board of management, at a news conference marking the centennial of Bayer's Japanese subsidiary.

He said: "Japan is more than just a market to us. This country is known for its strong innovative drive, which has been a constant inspiration to us over the years and has contributed significantly to the development of our global business."

The company currently has 28 products in phase II or III clinical studies in the country, and has submitted applications to the Japanese Ministry of Health, Labour and Welfare for marketing approval for Xarelto (rivaroxaban) in the prevention of stroke in patients with atrial fibrillation and for VEGF Trap-Eye for the treatment of wet age-related macular degeneration (AMD).

Dekkers also announced updates on Bayer's involvement in Japan's reconstruction project following the earthquake and tsunami in March 2011.

Bayer is to provide a further €700,000 for a long-term reconstruction project, including €300,000 donated by the company's employees.

Previously, Bayer had provided extensive emergency aid immediately after the earthquake, including donating healthcare products worth a total of €700,000 to the Japanese health authorities.

5th October 2011

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