Bayer says it has well-stocked product pipeline, spending more than $4 billion on R&D

9 December 2010

Germany’s Bayer Group (Bayer: DE) aims to invest its resources as a whole more consistently in growth and innovation capability. "We have a very successful record in innovation," said management board chairman Marijn Dekkers on Wednesday at "Bayer’s Perspective on Innovation 2010" presentation in Leverkusen. "Our research and development spending will likely rise to a record 3.1 billion euros ($4.15 billion) in 2010 - an increase of 13%," he noted. However, he indicated that this level will not be raised for 2011, the first time there will be no rise since 2006.

Bayer’s R&D budget has been the largest in the chemical and pharmaceutical industry in Germany for many years, Dr Dekkers added, and "we will continue to support our good research and development in the future. For the coming year we are planning a budget corresponding to 2010’s record level."

But is society ready to pay for innovation?

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