Bayer Spain is recovering after the impact of the pandemic. The Spanish subsidiary of the German pharmaceutical multinational recorded a turnover of $765 million (€697 million) in 2021, which translates into an increase of over 4%, mainly due to its pharmaceutical division. The figure is a far cry from the 0.3% decline last year.
The results were presented this morning by Bernardo Kanahuati, CEO of Bayer in Spain, at the company’s facilities in Sant Joan Despí, Barcelona. Specifically, sales in the pharmaceutical area increased by 8% in 2021 compared to 2020, to $394 (€359 million).
The pharmaceuticals segment accounts for more than 50% of Bayer’s business in Spain. It is followed by crop science, which accounts for 35%, with more than $219 million (€200 million; and agriculture, which improved its revenues by 3.5% in 2021 to (€246 million).
If you want to read more about Bayer Spain and to find the most important financial news of the day, download for free our companion app Born2Invest.
Bayer invested more than $33 million (€30 million) in infrastructure in Spain last year
However, the consumer healthcare division did not perform well. This division contracted its sales by 3.3% in 2021 compared with 2020, to $101 million (€92 million).
The figures in the pharmaceuticals area are cemented especially by the performance of its cardiovascular treatments and for the prevention of age-related ophthalmological diseases. Another highlight in 2021 was the introduction of Nubeqa, a new treatment for prostate cancer patients that expands the options for treating one of the most common cancers in men.
In terms of investments, Bayer Spain allocated $78.3 million (€71.3 million) last year, an increase of 9% compared to 2020. Kanahuati specified that $34.6 million (€31.5 million) corresponds to investment in infrastructure, while the remaining $43.7 million (€39.8 million) refers to innovation. This figure does not include the $77 million (€70 million) outlay Bayer made in the San Sebastian (Basque Country) company Viralgen.
Bayer’s commitment to its own research is complemented by a multitude of collaboration and open innovation projects that have also recently advanced and taken shape in order to continue contributing from Spain in this regard.
Recently, and within the framework of the Mobile World Congress 2022, the company presented the LifeHub Barcelona. The project is conceived as a collaborative structure that will allow concentrating the action with the local ecosystem for the transformation of health and agriculture, essential areas for the activity of Bayer. With this initiative, which will be located at Bayer’s headquarters in Sant Joan Despí, the company wants to create a collaborative environment with key players in the fields of digital therapies and the transformation of agriculture, with the aim of helping to identify and develop viable proposals that can contribute to improving people’s lives.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
EOS Cuts All Ties with Founding Company Block.one Through Hard Fork Antelope
As announced, EOS installed the Antelope 3.1 upgrade in its network on September 21st. With that, all connections to Block.one...
Plenitude (ENI) buys 65% of Hergo Renewables to Develop 1.5 GW Photovoltaic Projects
Last February Infrastrutture spa obtained a non-recourse loan of more than €8 million from Japanese lender Sumitomo Mitsui Trust Bank....
Nexi Is also in the Running for Sabadell’s Payments Division
Nexi ended the first half of the year with €1.52 billion in revenues (+8.7%) and Ebitda of an impressive €702.4...
World Football Summit: FIFA World Cup Business Opportunities and Beyond
With the FIFA World Cup approaching, every business and investor needs to position themselves to take full advantage of the...
Loona Launches Crowdfunding for a Cute Robot Pet with Versatile AI
Perhaps the cutest robot to date is currently being funded on Kickstarter. Loona combines versatile motor skills with numerous sensors...
Business1 week ago
The TopRanked.io Weekly Digest: What’s Hot in Affiliate Marketing [Week 37]
Business3 days ago
The TopRanked.io Weekly Digest: What’s Hot in Affiliate Marketing [Week 38]
Business2 weeks ago
At This Week’s Close, the Dow Jones Was Much Closer to its 52Wk Low Than its 52Wk High Line
Featured2 weeks ago
Fintech Company Yokoy Has Been Chosen as the Startup of the Year