Bayer Schering Pharma posts 23% increase in sales

SINGAPORE - Bayer Schering Pharma Asia Pacific (BSP AP), a subsidiary of Germany-based Bayer Schering Pharma AG, announced recently that it achieved over 23 percent growth in their business over the year 2008, reaching total sales of $ 1.3 billion. Registering one of the most impressive growth rates in 2008, it is poised to become one of the fastest growing pharmaceutical multinational companies in the region.

Chris Lee, Regional Head, BSP AP said, “This sterling growth has been achieved despite the economic downturn and we are committed to retain our leading edge by investing in North Asia and partnering with local institutions to develop innovative medical products for Asian communities. In addition, BSP is focused on the fast growing emerging markets of Southeast Asia, particularly Vietnam and Thailand.”

According to IMS, a global source for pharmaceutical market intelligence data, Bayer Schering Pharma Asia Pacific has become one of the fastest-growing companies in the region and is currently ranked among the top 10 in the overall ranking of pharmaceutical multinational companies. Bayer Schering Pharma is also one of the top 10 pharmaceutical companies in the Philippines.

The company has entered into a $2.8-million research collaboration with the Yong Loo Lin School of Medicine, National University of Singapore, in September 2008, to undertake translational cancer research. Such collaborative research efforts to bring about breakthrough bench-to-bedside medical treatments are in line with the strategic aims of the National University Health System, which governs the Yong Loo Lin School of Medicine.

This initial investment is part of a $15 million commitment Bayer is undertaking to invest in Research and Development activities in Singapore over the next SIX years in partnership with Singapore-based universities, hospitals, research institutes and companies.

In addition, BSP established the Bayer HealthCare Global R&D Centre in China in February 2009. The centER will house experts supervising pre-clinical and clinical development as well as conducting basic science research for new global therapies in China, Asia and beyond.

In line with its goal to invest in Asia Bayer Schering, Pharma is committing close to $100 million over the next five years in connection with the newly established Bayer HealthCare Global R& D center (China).The center’s aims will be twofold: It plans to develop innovative drugs addressing significant unmet medical needs. In addition with a world class research center in Beijing, BSP hopes to systematically include Asian patients earlier in global drug development, breaking new ground in bringing innovative therapies simultaneous to Asia, Europe and North America.

Dr. Amar Kureishi, head of Medical Affairs, Bayer Schering Pharma Asia Pacific said, “The Bayer HealthCare Global R&D Centre (China) aims to become an innovation driver in China, building local drug discovery capabilities, and promoting scientific excellence and education in life sciences together with strategic partners. To this end, Bayer Schering Pharma is in advance discussions with Tsinghua University to enter a unique strategic partnership. This inaugural partnership with the renowned university will help BSP pursue research collaborations for the discovery of new disease-related targets. For patients this means faster access to new and innovative therapies.”