Bayer HealthCare to invest $26M in China
Bayer HealthCare, the division of Germany's Bayer AG that has just merged with Schering AG, plans to enlarge production facilities in Beijing, China, and says it intends to make an investment of $26.0 million to do this.
Speaking at the ceremony to inaugurate a $1.8 billion new production facility for the Bayer MaterialScience subgroup in Shanghai, group management board chairman Werner Wenning revealed that the company's sales in Greater China grew 24% to 1.26 billion euros ($1.62 billion) in 2005 versus 2004, noting that Bayer HealthCare's increased even faster over that period, at 39%.
As an example of the firm's commitment to China, Mr Wenning mentioned Bayer HealthCare's diabetes initiative. He said around 40 million Chinese already suffer from this disease and it will affect an estimated 50 million there by 2008. In "diabetes houses," Bayer offers patients improved access to diagnosis, treatment, monitoring and consulting services. Also, said Mr Wenning, the firm's diabetes drug Glucobay (acarbose) is the top-selling product on the Chinese pharmaceutical market.
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