MOSCOW (MRC) -- German drugs and chemicals group Bayer plans to invest EUR4 billion (USD4.54 billion) in research and development this year, said Reuters, citing chief executive.
"That is more than ever before. The development of our new blood thinner Xarelto alone cost 2.2 billion euros," Marijn Dekkers.
Aspirin maker Bayer raised its research and development spending by 5 percent to 3.57 billion euros in 2014, representing 8.5 percent of its sales before special items. It has about 14,000 employees worldwide working in this field.
As MRC informed earlier, Bayer AG plans to list its plastics division as early as October 2015 to take advantage of current rich stock market valuations. The report, which cites sources familiar with the deal, said that, while a decision on the exact timing will be taken just days ahead of the actual launch of the initial public offering (IPO), Bayer wants to conclude preparations by late August.
Bayer is a global enterprise with core competencies in the fields of health care, agriculture and high-tech polymer materials. As an innovation company, it sets trends in research-intensive areas. Bayer's products and services are designed to benefit people and improve their quality of life. At the same time, the Group aims to create value through innovation, growth and high earning power. Bayer is committed to the principles of sustainable development and to its social and ethical responsibilities as a corporate citizen. In fiscal 2014, the Group employed 118,900 people and had sales of EUR 42.2 billion.
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