Bayer Health Care Sales Fueled By Older Products
Bayer AG's health care division saw sales increase 7% to 11.8 billionDeutschemarks ($6.98 billion) in 1996. The operating profit for the division was 1.9 billion marks (up 2%), and the return on sales was 16%, according to chairman of the board Manfred Schneider at the firm's annual results meeting in Leverkusen, Germany.
The biggest contributor was pharmaceuticals with 7 billion marks in sales (up 9%), driven mainly by big-selling products such as the quinolone antibiotic Cipro (ciprofloxacin) and the calcium channel blocker Adalat (nifedipine), as well as strong growth from newer products such as Kogenate (recombinant Factor VIII) and Glucobay (acarbose) for diabetes. Sales performances for these products were reported in last week's issue.
In 1997, Bayer plans to maintain above-average growth in pharmaceuticals, as it launches two new products, miglitol for diabetes (through a licensee) and the lipid-lowerer Lipobay (cerivastatin), both of which recently gained their first marketing approvals (Marketletter March 17).
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