Bayer foresees 8% pa sales growth for pharma through 2016

Germany’s Bayer (BAYN: DE) expects strong growth for its pharmaceutical business as a result of a number of new products, the company’s chief executive Marijn Dekkers told delegates at its investor conference in Leverkusen yesterday.

Sales and margin at Bayer HealthCare are planned to increase through 2016, mainly thanks to the recently launched pharmaceutical products. Over the same period, Bayer CropScience also intends to substantially grow its business, maintaining its margin at an industry-leading level. In an improved market environment, Bayer MaterialScience expects good sales and earnings momentum. These prospects are based on average exchange rates for the fourth quarter of 2013, including a rate of $1.36 to the euro.

“I'm particularly confident about our health care business thanks to the encouraging development of the five pharmaceutical products we have recently launched,” said Dr Dekkers. Notwithstanding the positive sentiment, Bayer’s shares dipped 0.8% to close at 95.63 euros yesterday.

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