Bayer to Invest 100 Million in Sustainable Health Products

Bayer is going green. The German pharmaceutical company announced Thursday, December 2nd, that it will invest $113 million (€100 million) to promote innovation, production, and sustainable consumption of products in its consumer health division. This investment represents 2% of the sales of the pharma’s self-care division.

“The climate crisis impacts every family around the world, especially in disadvantaged communities, and is one of the great global health challenges of our time,” said Heiko Schipper, President of Bayer’s Consumer Health Division.

Over the past 20 years, climate change has been the cause of an increasing number of chronic diseases and other health problems, disproportionately impacting vulnerable populations, including children, the elderly, minorities, and poorer communities.

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Bayer achieved a turnover of $37 billion (€33 billion) from January to September 2021

Bayer recorded a loss of $182 million (€161 million) between January and September 2021, although it improved the negative result of $12.2 billion (€10.8 billion) recorded in the same period of 2020, according to the latest financial results published by the Teutonic company.

The company justifies this improvement thanks to the fact that the crop protection and other agricultural products business achieved “remarkable growth” and the pharmaceuticals division benefited from the strong increase in sales of the drug Eylea against wet age-related macular degeneration.

According to the latest published accounts, Bayer’s sales rose by 5% between January and September 2021 compared with the same period in 2020, to $37 billion (€33 billion). Gross operating profit (Ebitda) stood at $9.93 billion (€8.78 billion), compared with $10.2 billion (€9 billion) a year earlier.

In Spain, on November 11th, the company announced the expansion of activity at its facilities in Asturias, which will start production of a new active ingredient in January next year. The center, which concentrates 100% of the production of acetylsalicylic acid for Bayer worldwide, now incorporates the production of nifedipine into its activity and consolidates its future projection and key contribution to cardiovascular health.

The center, located in Langreo and which is about to celebrate eighty years of activity, has received in the last five years an investment of more than $28 million (€25 million) for the overhaul and expansion of its facilities. Advances in automation and innovation applied to the production model have received a large part of this investment, which in 2021 alone will exceed four million euros.

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(Featured image by eliasfalla 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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