Bayer Healthcare Unit Says Eyes Takeovers In India
Bayer, Germany's largest drugmaker, is looking for acquisitions to bolster its fledgling healthcare business in India.
Bayer's healthcare division generated more than 20% of 2009 sales in the Asia Pacific region, where it saw faster growth than in any other region. While it is one of the largest pharmaceuticals suppliers in China, its presence in the Indian drug market has been of little significance.
"In India we are open to businesses to strengthen our position," said Alok Kanti, in charge of Bayer's Asia Pacific prescription drug division, adding the company was "looking for the right opportunity and evaluating every opportunity."
Consultancy McKinsey & Co expects India's drug market to swell to about $20 billion in revenues in 2015, growing at an annual 12-14%. Bayer's business in India has so far been dominated by its CropScience pesticides unit.
Chief executive Werner Wenning has repeatedly said he was looking for takeovers to strengthen Bayer's healthcare division but larger deals were seen as unlikely before he hands over to his successor Marijn Dekkers in October.
most read
Orion Announced Plans to Shut Down Carbon Black Plants
Carbon black manufacturer Orion Engineered Carbons plans to rationalize production lines in North and South America and EMEA.
Dow to Shut Down Three Upstream European Assets
Building on the April 2025 announcement, Dow will take actions across its three operating segments to support European profitability, resulting in the closure of sites in Germany and the UK.
BASF Sells Majority Stake in Coatings Business
BASF sells a majority stake in its coatings business to the investor Carlyle.
Novo Nordisk to Cut 9,000 Jobs Globally in Major Restructuring
Novo Nordisk announced a global workforce reduction of approximately 9,000 positions to streamline operations and reinvest DKK 8 billion (€1 billion) in growth opportunities for diabetes and obesity treatments.
