Bayer said it needed to do more to boost sales of its drugs after lowering turnover estimates for its six most promising products to about €3.75bn ($4.26bn) compared with an earlier €6bn target for the top five drugs. The company said it would enhance its pipeline of licensing and takeover deals to increase group earnings to €16bn in 2022 from €12.2bn this year. The firm sold several businesses and said revenue would be hit by the ending of a heart drug patent and that competition would affect sales of its eye drug.
Bayer said it needed to do more to boost sales of its drugs after lowering turnover estimates for its five most promising products to about €3.75bn ($4.26bn) compared with an earlier €6bn target for the top six drugs. The company said it would enhance its pipeline of licensing and takeover deals to increase group earnings to €16bn in 2022 from €12.2bn this year. The firm sold several businesses and said revenue would be hit by the ending of a heart drug patent and that competition would affect sales of its eye drug.