Here are some brief pharma news for your quick update:
• Bayer Schering Intensifies Investment In Asia
• Teva Enjoyed Impressive Sales Growth in 2009
• Abbott Acquired Solvay
• Bayer Schering Intensifies Investment In Asia
German pharma giant - Bayer Schering - has announced its ambitious plan to expand investment in India and Vietnam to increase its presence and intensify business rate in Asia. Some specific plans released was the plans to pursue acquisition in India and aim for a six-fold increase in sales in Vietnam by 2015 through aggressive staff expansion. The company has set a goal to become one of the top three pharmaceutical groups in South Korea by 2013, with plans to increase the staff there by 20%, and among the top 10 pharma groups in India by 2015.
• Teva Enjoyed Impressive Sales Growth in 2009
Generic maker Teva Pharmaceutical has reported a healthy 25% increase in full year net sales of US$13.9bn compared to US$11bn in 2008. Shlomo Yanai, president and chief executive officer of Teva, said: “2009 was a very good year for Teva, a year in which our company delivered record-breaking sales and profits across all our geographies and major businesses.
• Abbott Acquired Solvay
Abbott has added an additional portfolio of complementary pharmaceutical products to its portfolio by acquiring Belgium-based Solvay Pharmaceuticals for EUR4.5bn. The integration of Solvay into Abbott’s operations is expected to translate into additional sales of US$2.9bn and US$500m to Abbott's annual pharmaceutical R&D investment. Werner Cautreels, CEO of Solvay will continue in the same position for some time before leaving the company. Solvay will be a part of Abbott's global pharmaceutical products group.
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