Bayer R&D Center To Uncover Chinese Insights
A new dedicated R&D facility for Bayer Consumer Health in China will enable the firm to “quickly take the pulse of the market” and transform demand into innovative products.
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Bayer is starting to see green shoots of recovery after a prolonged period of declining sales and earnings at its Consumer Health business. Turnover improved by 2% in the second quarter, driven by gains in Europe and Latin America.
Notwithstanding a particularly difficult 2018, Bayer Consumer Health still has "one of the best brand portfolios," and can continue to compete with the market leaders, says CEO Werner Baumann. Consumer Health struggled particularly in the US and Europe in the 12 months, with the majority of its leading brands recording poor performances.
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'.