Bayer HealthCare sales forecast for growth up to 2014

Bayer HealthCare has been forecast to reach an annual sales total of 20 billion euros (16.64 billion pounds) by 2014.

During a recent investor conference, the Bayer group's chief executive officer Dr Marijn Dekkers predicted that the business unit will experience growth in terms of revenues and margins, thanks to the strength of its pipeline.

Financial data for 2011 released last month showed that Bayer HealthCare sales came to 17.17 billion euros last year, helping to drive a 4.1 percent year-on-year rise in revenues for the group as a whole.

Sales predictions for a number of key therapies have recently been increased, with Bayer believing that its late-stage developmental drugs Xarelto, VEGF Trap-Eye, Alpharadin and regorafenib all have billion-dollar blockbuster potential.

The company aims to build on this by continuing its expansion in emerging markets, a key area of growth in 2011.

"Our innovations and their successful commercialisation are the foundation for this company's continued growth," added Dr Dekkers.