BRIEF—Bayer invests 400 million euros in women's health

German drugmaker Bayer today announced an investment of 400 million euros ($465 million) in manufacturing facilities.

The money will be used to expand the firm’s capabilities at an existing site in Finland, and to establish a brand new production facility in Costa Rica.

Bayer is working to meet demand, especially in low- and middle-income countries, for women’s health products, including hormonal implants and hormonal intrauterine systems (IUS).

The extra capacity will also help bolster long-term supply in anticipation of increased global demand for long-acting reversible contraceptives (LARCs).

The new site in Costa Rica is expected to be operational by 2024, while the upgraded facilities in Finland should be operational in 2025.