Bayer Seeks To Double US Revenues Over Next Decade, With Planned R&D Spending Of Around $1B

Bayer AG BAYRY intends to shell out around $1 billion on drug research and development in the U.S. in 2023 as it works to double its sales in the U.S. over the next ten years.
Sebastian Guth, president of Bayer's pharmaceuticals business in the Americas, in an interview with Reuters, said the company increased U.S. employees working on marketing for its pharmaceutical business by around 50% over the last three years and plans to expand on that by another 75% by 2030.
"It's time for us to double down on the U.S.," Guth said, noting that Bayer plans to sell the drugs it is developing under its workforce rather than a partner(s).
Bayer is seeking to build its portfolio of new drugs to boost its shares hit by concerns over weedkiller Roundup litigation and a lack of trust in the company's leadership, writes Reuters.
Bayer appointed former Roche executive Bill Anderson as the new Chief Executive to replace Werner Baumann after 35 years of service at the end of May 2023.
During its Q4 earnings release, the company said it expects annual peak sales of €12 billion from cancer drug Nubeqa, kidney medication Kerendia, and its late-stage experimental candidates, stroke drug asundexian, and women's health drug elinzanetant.