Bayer to invest $129 in China drug market
February 22nd, 2009 -- Posted in Drug Market News | No Comments »On Thursday, German pharmaceutical company Bayer released a news that it would invest 100 million euros (129 million U.S. dollars) within five years to set up a research and development (R&D) center here.
Bayer Schering Pharma AG, a division of Bayer HealthCare, will build the center, making China the third country after Germany and the United States to host a global R&D center for the company, it said in a statement.
The center is expected to help boost Bayer’s capabilities in global drug development, particularly to benefit Asian patients, it said.
China is the third-largest market worldwide for the Bayer group, where the company reported 43 percent of growth rate in 2007.
Bayer AG is a German chemical and pharmaceutical company founded in Barmen, Germany in 1863. Today it is headquartered in Leverkusen, North Rhine-Westphalia, Germany. It is well-known for its original brand of aspirin. Bayer is the third largest pharmaceutical company in the world.