Bayer's Consumer Chief Initiates Turnaround Plan In Bid To Return Troubled Business To Growth
Bayer's Consumer Health chief Heiko Schipper is hoping a focus on innovation and a leaner portfolio will help return the business to mid-single-digit growth by 2022. The German firm has identified its North American business as the 'key area to fix'.
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Q4 sales in OTC allergy/cold segment, which includes the Claritin allergy and Afrin nasal congestion lines, grew 5% adjusted while dermatology sector with Bepanthen and Canesten skin care brands grew 3.8%. Adjusted for the impact of foreign exchange and portfolio changes, thouhg, consumer unit’s full-year sales were flat.
Bayer has teamed up with skin microbiome specialist Azitra to develop consumer health products for a host of conditions.
Bayer consumer health segment shows 3.7% growth to $1.43bn on 9% growth in pain relief and 6.4% in allergy and cold. But North American business still faces challenges.