SINGAPORE – Bayer Schering Pharma Asia Pacific is aiming to grow its business faster than the industry average this year after reporting a 13 percent improvement in sales last year to EUR 1.04 billion, ($1.41 billion) from EUR 910 million ($1.237.6 billion) in 2008, despite the global crisis.
In a press briefing here on Friday, BSPAP regional head Alok Kanti said this makes Asia Pacific the fastest growing region for the German pharmaceutical company noting that they even started as being pessimistic in the first quarter of 2009 because of the economic slowdown.
He said “2009 was operationally a very strong year. We continued to deliver double-digit sales growth despite the weakened economy. Our focused strategy in countries like China and Korea is materializing, and we are now optimistic that we can also realize it in other emerging markets like Vietnam and India.”
He said Bayer Schering Pharma expects to be one of the top ten key pharma players with top line growth above the market in Asia Pacific.
Kanti said growth this year will be spurred by the company’s strong focus on emerging markets like Korea, Vietnam and India adding that significant investments will go into enhancing its expertise in research and development, talent development, and improving patients’ access to novel therapies.
He noted that the region is expected to register above average economic growth and offers a lot of opportunities because the region is coming from a low starting point in healthcare usage.
Read the full article here by James Loyola