Bayer drugs unit sees double-digit Asia sales growth
SINGAPORE (Reuters) - Bayer Schering Pharma, a unit of German drugs and chemicals group Bayer AG <BAYG.DE>, said on Monday that it sees sales growth in Asia Pacific in high double digit figures in the next few years.
Bayer Schering Pharma said Asia Pacific will contribute more than 9 percent to its global sales this year, with China being the main growth driver in the region.
"Asia Pacific was the fastest growing region last year at over 26 percent, and China was our main engine of growth in the region. We expect the region to remain our fastest growth market," Chris Lee, regional head of Bayer Schering Pharma Asia Pacific, said in a media conference. Bayer Schering Pharma, formed after Bayer took over Schering AG in 2006, focuses on researching drugs that treat conditions ranging from cancer, high blood pressure and diabetes to erectile dysfunction.
Bayer Schering Pharma said on Monday it will also launch a top-selling oral contraceptive in Asia Pacific in the next 12 months.
(Reporting by Daryl Loo, editing by Neil Chatterjee)