Bayer to set up new centre in China
A research and development (R&D) centre will be set up by Bayer Schering Pharma in Beijing to benefit from the country’s health reform plan which will cost the Chinese government 850 billion yuan. The centre will cost Bayer 100 million euros over the next five years.
Besides the other three centres in Germany and the US, the centre in Beijing will be the fourth in the world for the pharmaceutical division of the German drug and chemical group Bayer.
According to the company, the new centre aims to develop new drugs tailored to Asian patients and plans to lead conduct research in partnership with Tsinghua University.
Industrial experts forecast that the investment of 850 billion yuan in the nation’s healthcare industry over the next two years will help keep the sector’s 20 to 30 percent annual growth.
The reason that Bayer decided to invest in China in such a global recession is that the healthcare plan can be beneficial to expand business in China, said Andreas Fibig, chairman of the board of management of Bayer HealthCare.
As Bayer’s third largest and the fastest growing market, China now has its three manufacturing units which are located in Beijing, Guangdong and Jiangsu. Most of the products are sold in China.
Fibig said in spite of the financial crisis, the healthcare business did not get any negative impact. He is confident with the market in 2009. Bayer will outperform the local market, which is expected to grow over 20 percent year-on-year in the next two to three years, Fibig said.
Results from IMS Health, the world’s largest medical researcher have showed that based on sales revenue, Bayer is the NO.1 among international healthcare companies in China. Its local sales in 2008 increased over 50 percent compared with the same period in 2007.
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