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Bayer CEO see Organic Growth as the most Important Target – reports
Thursday, 22 March 2012 Bayer AG
(BAYN.XE) views organic growth as the chemical and pharmaceutical
company’s most important target, Chief Executive Marijn Dekkers told
journalists late Wednesday in Duesseldorf.
“We have a good
product pipeline and want to drive our sales with that,” the CEO said
at the event organised by the Duesseldorf Wirtschaftspublizistischen
Vereinigung, or WPV. At the WPV event, journalists met with leaders of
industry.
He added the company has no need to carry out acquisitions, although he didn’t rule it out.
Dekkers
declined to comment on specific acquisitions. Recent media reports have
speculated that Bayer is interested in Pfizer Inc.’s (PFE) animal
health unit and submitted a preliminary offer for it. The Financial
Times Deutschland last week reported Dekkers expects Pfizer will opt to
take the unit public.
Pfizer’s animal
health unit, with annual sales of over $4 billion, is the largest in
the world. Bayer’s animal health unit makes EUR1.2 billion a year in
sales.
Animal health
is an important business and an important part of Bayer’s strategy,
Dekkers said at the event. Bayer is the only company in the world that
brings human, animal and plant health under one roof, a factor the CEO
said offers many possibilities in the long term.
The CEO said
Bayer LifeScience’s health and nutrition units have potential to grow
through Innovation, however, Dekkers criticised an increasing
estrangement in Germany from technology in the fields of biotechnology,
genetic engineering, nanotechnology and hybrid technology. News Source: Dow Jones Newswires What do you think about this
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