Please login to the form below

Not currently logged in
Email:
Password:

Bayer plans Russian expansion

Eyes growing demand from country's rising middle class

Bayer 

Bayer is set to expand its operations in Russia, adding more than 800 new jobs over the next four years to help drive a substantial increase in its sales in the country.

The German pharma company expects sales of its products in Russia to rise by 80 per cent to €1.3bn by 2017, aided by growing demand from a rising middle class.

Bayer is currently the fourth-largest pharmaceutical company in Russia thanks to last year sales in the country that reached €726m, with its healthcare business accounting for 67 per cent of the total.

Announcing the investment in Moscow last week, Bayer's CEO Dr Marijn Dekkers said new products and other launches would propel the company into third place by 2017 with anticipated sales of some €900m.

Key products for the company will be Nexavar (sorefinib), for which Bayer is seeking to expand its licence from kidney cancer into thyroid and breast cancer, and its recently approved colorectal cancer drug Stivarga (regorafenib).

It also has high hopes for anti-hypertensive riociguat, which it says could reach blockbuster status, as well as an over-the-counter (OTC) portfolio that includes its new multivitamin Supradyn and Aspirin.

Announcing its investment Bayer was keen to emphasis its commitment to the country, highlighting a strategic partnership with Sverdlovsk-based drug manufacturer Medsintez to jointly manufacture and commercialise diagnostic imaging products.

The deal, signed last year, also covers pharmaceuticals, starting with Bayer's anti-infective Avelox, and this year the firms began joint marketing activities.

"We are committed to Russia as a partner and want to continue to offer valuable contributions to the development in this country, both in business and in the Russian community,” said Dekker.

Bayer's investment follows similar moves by a number of other pharma companies, including Eisai and Takeda, as firms continue to expand their footprint in the emerging market.

Article by
Dominic Tyer

10th September 2013

From: Sales

Share

Tags

Featured jobs

Subscribe to our email news alerts

PMHub

Add my company
BASTARD . LONDON

BASTARD . LONDON collaborates with you to amplify brand ideas into a visual brand language that resonates and engages with...

Latest intelligence

image 1
Redefining communications excellence
How to be heard in today’s multichannel, multistakeholder, multimedia world...
AZ Campus
AstraZeneca: building a new ‘open innovation’ pharma company
The construction of its new HQ has suffered some serious delays, but new R&D and commercial success are lifting AstraZeneca’s prospects...
Erik Nordkamp
In conversation with Pfizer’s Erik Nordkamp
Pfizer’s UK general manager talks to PME about the NHS at 70, the potential of pharma partnerships and some lessons from Europe...

Infographics