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Bayer CEO see Organic Growth as the most Important Target - reportsThursday, 22 March 2012
Bayer AG (BAYN.XE) views organic growth as the chemical and pharmaceutical company's most important target, Chief Executive Marijn Dekkers told journalists late Wednesday in Duesseldorf.
"We have a good product pipeline and want to drive our sales with that," the CEO said at the event organised by the Duesseldorf Wirtschaftspublizistischen Vereinigung, or WPV. At the WPV event, journalists met with leaders of industry.
He added the company has no need to carry out acquisitions, although he didn't rule it out.
Dekkers declined to comment on specific acquisitions. Recent media reports have speculated that Bayer is interested in Pfizer Inc.'s (PFE) animal health unit and submitted a preliminary offer for it. The Financial Times Deutschland last week reported Dekkers expects Pfizer will opt to take the unit public.
Pfizer's animal health unit, with annual sales of over $4 billion, is the largest in the world. Bayer's animal health unit makes EUR1.2 billion a year in sales.
Animal health is an important business and an important part of Bayer's strategy, Dekkers said at the event. Bayer is the only company in the world that brings human, animal and plant health under one roof, a factor the CEO said offers many possibilities in the long term.
The CEO said Bayer LifeScience's health and nutrition units have potential to grow through Innovation, however, Dekkers criticised an increasing estrangement in Germany from technology in the fields of biotechnology, genetic engineering, nanotechnology and hybrid technology.
News Source: Dow Jones Newswires
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