Bayer plans to spend $1 bln on US pharma drug R&D in 2023-US pharma head

Bayer AG plans to spend $1 billion on drug research and development in the United States this year as it seeks to double its sales in the country by the end of the decade, according to the company's top U.S. pharmaceutical executive. In an interview on Wednesday, Sebastian Guth, president of Bayer's pharmaceuticals business in the Americas, also stated that the company has increased the number of U.S. employees working on marketing for its pharmaceutical business by around 50% in the last three years, and plans to increase that figure by another 75% by 2030.

"It's time for us to double down on the US," Guth said, noting that Bayer intends to sell drugs developed in-house in the country rather than partnering with US companies in the past. Bayer is looking to expand its drug portfolio in order to boost share prices, which have been hit by concerns about Roundup litigation and a lack of trust in the company's leadership.

It hired former Roche executive Bill Anderson to replace embattled CEO Werner Baumann, who had previously stated that he would stay until the end of his current term in April 2024. Guth said he expects peak sales of 12 billion euros from cancer drug Nubeqa, kidney medication Kerendia, and two of its top pipeline assets, experimental stroke drug asundexian and experimental women's health drug elinzanetant. He said he expects more than half of those sales to come from the U.S. "If you look at what we have ahead of us in the U.S., I see very real opportunity to double that business," he said.