Bayer likely to boost consumer health operations

According to Arthur Higgins, chairman of Bayer Healthcare, the company has no plans to divest its consumer health division that has registered a 6.95% rise in sales in 2007. Buoyed by the aspirin brand (which brought in 460 million euros), the vitamin C tablet Berocca, the painkiller Aleve (naproxen), and Canesten (clotrimazole), an antifungal treatment, the consumer division is likely to contribute to the firm’s profits.

Mr Higgins also said that the consumer health unit acts as a buffer to the volatility exhibited by the pharma markets. He also agreed with the GlaxoSmithKline’s outgoing CEO Jean-Pierre Garnier, who championed the cause of consumer healthcare in GSK’s business strategies. Bayer is reportedly aiming to achieve double-digit growth in the emerging markets – Russia, Brazil, South Korea, Mexico and China – in 2008. Mr Higgins also urged the pharma industry to be transparent in its activities despite considerable challenging facing it.