Bayer planning to significantly increase growth in life sciences

German drug major Bayer (BAYN: DE) is planning to significantly expand its life sciences business, aiming to achieve strong sales and earnings growth, the company said in an investor conference in Berlin.

The company seeks to considerably increase sales and margins in health care in particular through 2017, driven by recently launched pharma products and the consumer care business, which was strengthened in 2014 through acquisitions.

At the “Meet Management” investor conference in Berlin, Marijn Dekkers, chief executive of Bayer, said: “We are also optimistic for the medium term and have great plans for the Life Science businesses...We will continue to invest heavily so that we continue to be successful with innovative products.”