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Bayer Spain Increases Sales by More Than 4% in 2021 to €697 Million

The figures in the pharmaceuticals area are cemented especially by the performance of Bayer’s 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.

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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).

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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.

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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.

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(Featured image by Tumisu via Pixabay)

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First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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Eva Wesley is an experienced journalist, market trader, and financial executive. Driven by excellence and a passion to connect with people, she takes pride in writing think pieces that help people decide what to do with their investments. A blockchain enthusiast, she also engages in cryptocurrency trading. Her latest travels have also opened her eyes to other exciting markets, such as aerospace, cannabis, healthcare, and telcos.